BackFIIs can’t buy more Maruti shares: RBI
Foreign investment in Maruti Suzuki has crossed the overall limit of 24% of its paid-up capital, RBI said
Premium(Hemant Mishra/Mint )
Mumbai: The Reserve Bank of India (RBI) on Monday said foreign Institutional Investors (FIIs) cannot buy shares of the country’s largest car manufacturer Maruti Suzuki India Ltd (MSIL) as their limit of 24% has been breached.
Foreign investment in Maruti Suzuki has crossed the overall limit of 24% of its paid-up capital, RBI said in a statement.
“Therefore, no further purchases of share of this company would be allowed through stock exchanges in India on behalf of Foreign Institutional Investors (FIIs)," it said.
FIIs, NRIs and PIOs (Persons of Indian Origin) are allowed to invest in the primary and secondary capital markets in India under the portfolio investment scheme (PIS). Shares of Maruti Suzuki closed at 1,449.90 apiece on the BSE, up 0.7% from the previous close.
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