FPI holding: Sintex Plastics Under RBI Watch

Posted By: Religare
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Reserve Bank will monitor foreign shareholding in Sintex Plastics Technology so that it does not cross the upper limit of 74 per cent.

    FPI holding: Sintex Plastics Under RBI Watch

    "Foreign investment limit for investment by Foreign Institutional Investors (FIIs)/ Foreign Portfolios Investors (FPIs) in M/s Sintex Plastics Technology Limited has increased from 24 per cent to 74 per cent of its paid up capital," RBI said in a notification.

    "The increase is subject to regulation 5(2) and 5 (2A) of Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000...as amended from time to time, and the onus of compliance with the limits prescribed for the company is on the company," RBI said.

    FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.

    RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis.

    Read more about: rbi fpi sintex
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more