Foreign institutional investors (FIIs) cannot buy YES Bank shares any more as their limit of 49 per cent has been breached.
FIIs, NRIs and PIOs (Persons of Indian Origin) are allowed to invest in the primary and secondary capital markets in India under the Portfolio Investment Scheme (PIS).
The Reserve Bank of India in a statement said: "...YES Bank has crossed the overall limit of 49 per cent of its paid-up capital. Therefore, no further purchases of share of this company would be allowed through stock exchanges in India on behalf of Foreign Institutional Investors."
YES Bank shares
closed at Rs 474.50 apiece on the Bombay Stock Exchange on Monday, up 0.3 per cent from the previous close.
With inputs from PTIDisclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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