Alternate Investment Funds, Credit Suisse Singapore, Integrated Core Strategies Asia Pte and Societe Generale name are missing in SJS Enterprises' latest December quarter shareholding data.
LVB said it will seek approval for the proposals from its shareholders in the upcoming annual general meeting (AGM) on September 25 which will take place through audio/visual means due to the coronavirus pandemic.
Reserve Bank has restricted overseas investors to make further investment in South Indian Bank as the prescribed foreign shareholding limit has reached the trigger limit.
In a move that may help attract more overseas capital, the Union Cabinet allowed a foreign company to own up to 15 percent in the domestic stock or commodity exchanges as against 5 percent currently.
"The board of directors in their meeting held on June 30, has considered and approved to increase in limit of investment by foreign portfolio investors in the equity shares of the company from 24 percent to 49 percent of the paid-up equity share capital of the company," the company said in a regulatory filing.
The Reserve Bank has allowed overseas investors to buy equity shares in Multi Commodity Exchange (MCX) after foreign shareholding in the bourse fell below the prescribed threshold caution limit
The bank's board has approved sponsored Level I Depository Receipt (DR) issuance programme of up to 1 crore DRs.
What the Budget announcement did is they have merged the limit of foreign institutional investors (FIIs) and foreign direct investment (FDIs) in bank stocks, which means irrespective of whether the FII holding is at 49 percent, FIIs can buy up to 75 percent in a clubbed way in private bank stocks.
“The Reserve Bank on Wednesday notified that foreign shareholding by FIIs in the company has dipped below the prescribed threshold limit stipulated under the RBI policy. Hence the restrictions placed on the purchase of shares of Future Retail were withdrawn,†RBI said in its press release.
HDFC Bank foreign holding was above the 49% market when the new guidelines were introduced. Over the last two quarters, foreign holding in HDFC Bank has slipped from over 51 percent to below 49 percent. Foreign holding in HDFC Bank included FIIs investments and ADRs listed in the US market.
The RBI and the finance ministry have differed on the issue of foreign shareholding for new bank licenses and the difference of opinion will delay finalisation of the guidelines, reports CNBC-TV18 quoting sources.