RBI Restricts Overseas Investment in Inox Leisure

Mumbai: The Reserve Bank of India has said foreign investors’ shareholding in Inox Leisure has reached the “trigger” limit and further buying of shares will be allowed only after seeking prior approval from the central bank.

Shareholding by foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) in Inox Leisure has reached the trigger limit, the RBI said in a release.

“Therefore, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the RBI,” it said.

In JKumar Infra Projects, the central bank, said the foreign shareholding through FIIs/RFPIs has crossed the permissible limit.

Therefore, no further purchase of shares of this company would be allowed through stock exchanges in India on behalf of FII/RFPIs, it added.

Also, foreign shareholding by Non-Resident Indians (NRIs) in Southern Ispat & Energy has reached the trigger limit. Therefore, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the RBI