The Reserve Bank has restricted foreign investors from buying more shares in non-banking finance company Bharat Financial Inclusion after the allowed investment limit reached the ceiling.
The RBI said foreign shareholding in the company through foreign institutional investors (FIIs)/foreign portfolio investors (FPIs) has reached trigger limit in Bharat Financial Inclusion.
"Hence further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India," the central bank said in a release.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through portfolio investors scheme (PIS).
The RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.
Shares of Bharat Financial closed 1.92 per cent higher at Rs 922.45 on the BSE today.
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