Trigger limit reached: RBI restricts FIIs from GE Shipping, Kajaria Ceramics share purchases
The Reserve Bank on Tuesday restricted foreign institutional investors (FIIs) to purchase shares in Great Eastern Shipping Company and Kajaria Ceramics as the foreign equity shareholding have reached the trigger limit of 24 per cent.
‘The Great Eastern Shipping Co Ltd has crossed the limit of 24 per cent of its paid-up capital. Therefore, no further purchases of shares of this company would be allowed through stock exchanges in India on behalf of Foreign Institutional Investors,’ RBI said in a release. Also, it said Kajaria Ceramics has crossed limit of 24 per cent of its paid-up capital for investment by FIIs.
‘Therefore, no further purchases of shares of this company would be allowed through stock exchanges in India on behalf of FIIs,’ it added.
‘The Great Eastern Shipping Co Ltd has crossed the limit of 24 per cent of its paid-up capital. Therefore, no further purchases of shares of this company would be allowed through stock exchanges in India on behalf of Foreign Institutional Investors,’ RBI said in a release. Also, it said Kajaria Ceramics has crossed limit of 24 per cent of its paid-up capital for investment by FIIs.
‘Therefore, no further purchases of shares of this company would be allowed through stock exchanges in India on behalf of FIIs,’ it added.