New Delhi: The Reserve Bank Monday said Foreign Institutional Investors cannot buy shares of Yes Bank as their limit of 49 percent has been breached.
"...Yes Bank has crossed the overall limit of 49 percent of its paid-up capital. Therefore, no further purchases of share of this company would be allowed through stock exchanges in India on behalf of Foreign Institutional Investors," RBI said in a statement.
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 Yes Bank today closed at Rs 474.50 apiece on the BSE, up 0.3 percent from the previous close.
First Published: Monday, March 4, 2013, 20:09