In an interview to CNBC-TV18 R Varadarajan, MD, Repco Home Finance spoke about the latest happenings in the company and the road ahead. The Reserve Bank of India (RBI) has allowed FIIs/RFPIs to invest up to 49 percent in the company.
Below is the verbatim transcript of R Varadarajan’s interview with CNBC-TV18's Reema Tendulkar and Nigel D’Souza.
Nigel: Could you give us some clarity with regards to what is the current Foreign Institutional Investor (FII) holding and we have seen a couple of block since morning as well any kind of clarity whether or nor there are FIIs who are buying stake even today?
A: The original limit was 24 percent and our annual general meeting (AGM) has increased to 49 percent. Our Reserve Bank of India (RBI) has also has notified that FII limit can be up to 49 percent. We are also watching some block but I do not have the exact details how many new FIIs have joined now.
Reema: Could you tell us as per your latest information what is the current FII holding in the company and secondly are you in discussions with or have any FII approached you saying that or expressing interest to invest in your company?
A: Our present limit is 24 percent.
Reema: Would like to know how much they currently have as a part of our share holding not you limit?
A: That was only 24 percent that is our limit only.
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