Mumbai: The Reserve Bank on Thursday said it has lifted the restrictions placed on foreign investors to buy further shares in Tata Chemicals as the prescribed limit has gone below the threshold.
"The RBI today notified that the foreign shareholding by Foreign Institutional Investors (FIIs)/ Registered Foreign Portfolios Investors (RFPIs) in M/s Tata Chemicals Ltd have gone below the threshold limit," it said in a notification.
Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.
Therefore equity shares of Tata Chemicals Ltd can now be purchased through primary market and stock exchanges.
The purchases could be made through primary market and stock exchanges.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.
The RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis and has fixed the cut-off points two percentage points lower than the actual ceiling.
Tata Chemicals shares closed at Rs 427.05 per share on the BSE today, down 0.92 per cent from the previous close.