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RBI hikes Increase in FIIs/FPIs Investment in Capital First Ltd

Published: Sep 13, 2017

By TIOLCORPLAW News Service

MUMBAI, SEPT 13, 2017: THE Reserve Bank of India (RBI) has notified that the foreign investment limit for Foreign Institutional Investors (FIIs)/ Foreign Portfolios Investors (FPIs) in Capital First Ltd. has been increased from 24% to 50% of its paid up capital.

Capital First Ltd. has passed necessary resolutions of its Board of Directors and General Body as required under the FEMA 1999 and the regulations framed thereunder. Following this increase in the investment limit, aggregate shareholding by FIIs/FPIs in Capital First Ltd. has gone below the prescribed FIIs/FPIs investment limit for the company, hence, the restrictions placed on the purchase of shares of the company by FIIs/FPIs, vide Press Release dated July 26, 2017, is withdrawn with immediate effect by RBI.

In view of the above, BSE has issued a notice that Six lakh series for special bargain in the security of Capital First Ltd will be suspended w.e.f. September 13, 2017


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