The Reserve Bank of India (RBI) on Wednesday said that IDFC has agreed to decrease the limit for purchase of its equity shares and convertible debentures by foreign institutional investors (FIIs) and registered foreign portfolios investors (RFPIs), through primary market and stock exchanges up to 50.50% of the paid-up capital.
?The earlier limit for such investments in IDFC was 51.50%. IDFC has passed resolutions at the board of directors’ level and a special resolution by the shareholders, agreeing for decreasing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs,? RBI said.
However, RBI added that IDFC was placed in the ban list for FIIs/RFPIs on July 8, 2014, and continues to remain in that list.
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