RBI disallows further Investment by FIIs under PIS in Jaiprakash Associates Ltd

The Reserve Bank of India has notified that no further purchases of equity shares of Jaiprakash Associates Ltd., should be made on behalf of Foreign Institutional Investors (FIIs) through primary and secondary markets in India without obtaining the prior permission of the Reserve Bank. The Reserve Bank has stated that Jaiprakash Associates Ltd., has reached the limit of 22 per cent of its paid up capital.

Source : Equity Bulls

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