RBI blocks further foreign investment in Capital First

Foreign shareholding through foreign institutional investors (FIIs)/foreign portfolios investors (FPIs) in Capital First has crossed the limit of 24% of its paid-up capital, as notified by the Reserve Bank of India (RBI) on Wednesday. Therefore, no further purchase of shares of this company would be allowed through stock exchanges in India on behalf of FIIs/FPIs.
 
As on June 30, 2017, foreign portfolio investors held a total of 25.69% in the company, according to data on the BSE.
 
Meanwhile, the central bank has notified that the foreign shareholding through FIIs/FPIs in Indraprastha Gas has increased from 24% to 30% of its paid up capital. Indraprastha Gas Limited has passed necessary resolutions of its Board of Directors and General Body as required under the FEMA, 1999 and the regulations framed there under.
 
Owing to the above increase in the stated investment limit, it is notified that the aggregate shareholding by FIIs/FPIs in Indraprastha Gas Limited has gone below the prescribed FIIs/FPIs investment limit for the company. Hence, restrictions placed on the purchase of shares of the above company by FIIs/FPIs are withdrawn with immediate effect.