No further buys in Shriram Transport Finance by foreign investors

Mumbai: Foreign investors have been restricted by RBI to buy further shares in Shriram Transport Finance Company Ltd as their holding has gone beyond the permitted limit.

The foreign shareholding through Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in Shriram Transport Finance has crossed threshold ban limit of its paid-up capital.

"Therefore, no further purchase of shares of this company would be allowed through stock exchanges in India on behalf of FII/RFPIs," it said in a notification.

As per the data available on BSE, FIIs held 54.18 percent stake in the company as of quarter ended September 2015.

FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through portfolio investment schemes (PIS).

RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis and has fixed the cut-off two percentage points lower than the actual ceiling.

Shares of the company closed at Rs 973.70 per share on the BSE today, up 0.57 percent from the previous close.