FIIs not allowed to buy Maruti shares as cap breached: RBI
Mumbai: The Reserve Bank Monday said foreign investors cannot buy shares of the country's largest car manufacturer Maruti Suzuki India Ltd (MSIL) as their limit of 24 percent has been breached.
Foreign investment in Maruti Suzuki India Ltd has crossed the overall limit of 24 percent of its paid-up capital, RBI said in a statement.
"Therefore, no further purchases of share of this company would be allowed through stock exchanges in India on behalf of Foreign Institutional Investors (FIIs)," it said.
FIIs, NRIs and PIOs (Persons of Indian Origin) are allowed to invest in the primary and secondary capital markets in India under the Portfolio Investment Scheme (PIS).
Shares of Maruti Suzuki Monday closed at Rs 1,449.90 apiece on the BSE, up 0.7 percent from the previous close.