FIIs/FPIs restricted to buy more shares in Fortis, Claris

The RBI today said foreign buyers will not be able to buy any more shares in Fortis Healthcare and Claris Lifesciences as the prescribed limit has been reached.

The foreign institutional investors (FIIs)/foreign portfolio investors (FPIs) in Fortis Healthcare Ltd has crossed the overall limit of 24 per cent of its paid-up capital, The Reserve Bank of India said.

"Therefore, no further purchases of shares of this company would be allowed through stock exchanges in India on behalf of Foreign institutional Investors (FIIs)/Foreign Portfolio Investors (FPIs)," it added.

In the case of Claris Lifesciences, RBI said holding by FIIs and FPIs too has crossed the overall limit of 24 per cent.

"Therefore, no further purchases of shares of this company (Claris) would be allowed through stock exchanges in India on behalf of FIIs/FPIs," RBI added.

FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through Portfolio Investment Scheme (PIS).

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

Stock of Fortis Healthcare and Claris Lifesciences closed 1.07 per cent down at Rs 194.20 and 0.11 per cent up at Rs 324.90 respectively on BSE today.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)