MUMBAI, May 19: The FII holding in Crisil is 18.63 per cent and not 28.2 per cent. This leaves enough room for FII buying in the counter. Crisil had announced earlier that the shareholding by FIIs, OCBs and NRIs in its paid-up equity share capital stood at 28.20 per cent as on March 31. Crisil has now received a clarification from the Reserve Bank of India stating that the shareholding by Standard & Poor's International Ratings Limited, an OCB holding 9.68 per cent shares is not to be considered for the purpose of computing limit on shareholding by NRIs/OCBs/FIIs under the Portfolio Investment Scheme. Consequently, the shareholding of FIIs/NRIs/OCBs in the paid-up Equity share capital of the company stands reduced to 18.63 per cent as on May 15, 1998.
The shareholders of the company had earlier approved the increase in the shareholding limit for FIIs/ OCBs/NRIs from 24 per cent to 30 per cent at the EGM held on November 4.
Crisil, after touching the 52-week high of Rs 742 on May 12, has been on thedecline. It is currently quoted at Rs 581.50.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
