Reserve Bank has restricted foreign investors to increase stake further in Tata Group departmental firm Trent as the permissible limit has been crossed.
The foreign shareholding through Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in Trent Ltd has crossed the limit of 24 per cent of its paid-up capital, RBI said in a notification.
“Therefore, no further purchases of shares of this company would be allowed through stock exchanges in India on behalf of FIIs/RFPIs,” RBI said.
As per the information on RBI website, the FII investment ceiling has reached 24 per cent as on September 2016, and hence no further purchases by overseas buyers is allowed.
Foreign Portfolio Investors held 25.68 per cent in Trent as the end of June 2016, showed the data on BSE.
Shares of the company closed 0.83 per cent higher at Rs 2,195.30 on BSE.
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Source: Business-Standard