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Monday, September 15, 2014

FIIs need RBI nod to buy YES Bank shares

YES Bank’s equity share purchase by foreign investors will be allowed only after obtaining the RBI approval as it had reached the trigger limit, the central bank notified on Friday.

“The Reserve Bank of India has notified that the foreign shareholding through Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/Non Resident Indian (NRI)/ Persons of Indian Origin (PIO)/ Foreign Direct Investment (FDI)/American Depository Receipt (ADR)/Global Depository Receipts (GDRs) in YES Bank Ltd has reached the trigger limit.

FIIs held 45.04 per cent shares in YES Bank as of quarter ended June 2014, according to BSE data.

Source : The Hindu


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