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Industrial Products India, Industrial Manufacturers & Suppliers
 




 
   
 
 
 

RBI allows up to 74 per cent share

RBI allows up to 74 per cent share purchase by foreign investors in Shriram City

The Reserve Bank of India (RBI) on Thursday lifted restriction on purchase of shares in Shriram City Union Finance by allowing foreign institutional investors (FIIs) to hold up to 74 per cent of the paid-up capital.

"The Reserve Bank of India today notified that Shriram City Union Finance has passed resolutions...to enhance the limit for purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs) through primary market and stock exchanges up to 74 per cent of its paid up capital, under the PIS," the apex bank said in a notification.

The RBI has also advised that the foreign shareholding by FIIs in this company have gone below the revised threshold limit stipulated under the extant FDI policy.

"Hence, the restrictions placed on the purchase of shares of this company have been withdrawn with immediate effect," it said.

Shriram City is a deposit accepting non-banking finance company that offers services such as financing two wheelers, three wheelers, four wheelers, personal loans, small business loan and loan against goal.

 

 
     
 
   
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