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No further FII purchases of ICICI shares -- RBI
JANUARY 19: The Reserve Bank of India has said that no further purchases of shares of ICICI Ltd should be made on behalf of FIIs, NRIs, OCBs and PIOs without RBI's approval as the net foreign holding of the financial institution has reached the trigger limit of 47 per cent of its paid-up capital with its ADR and GDR issues, outstanding foreign currency convertible bonds and other investments. The limit of foreign shareholding through such investments cannot exceed 49 per cent in its expanded equity capital, RBI said.Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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