Mumbai: The Reserve Bank of India Wednesday lifted restrictions placed on foreign institutional investors buying shares in Maruti Suzuki India Limited (MSIL) after their holdings fell below the prescribed limit.
FII stakes in Maruti Suzuki India under the portfolio investment scheme have gone below the prescribed threshold limit stipulated under the extant FDI Policy, the RBI said in a statement.
"Hence, the restrictions placed on the purchase of shares of Maruti Suzuki India are withdrawn with immediate effect," the central bank said.
FIIs held 22.03 per cent in MSIL as of the June quarter, according to data available on the BSE.
FIIs are allowed to buy shares and convertible debentures issued by Indian companies under the portfolio investment scheme, subject to a sectoral cap or statutory limit.
First Published: Wednesday, August 7, 2013, 21:38