The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from the existing 24 per cent up to 46 per cent of the paid up capital of M/s IDFC Bank Limited under the Portfolio Investment Scheme (PIS).

The Reserve Bank further notified that the total foreign investment from all sources i.e. Foreign Institutional Investors (FII)/ Registered Foreign Portfolios Investors (RFPIs)/ Foreign Direct Investment (FDI)/ Non-Resident Indians (NRI)/ Persons of Indian Origin (PIO)/ American Depository Receipts (ADR)/ Global Depository Receipts (GDR)/ in M/s IDFC Bank Limited shall not exceed 49 per cent.

The Reserve Bank has stated that M/s IDFC Bank Limited has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

The Reserve Bank has notified this under FEMA 1999.

Anirudha D. Jadhav
Assistant Manager

Press Release : 2016-2017/142