Govt bars more foreign buying in ICICI shares
RBI bars further purchases of ICICI Bank shares by overseas investors since their holding has reached the 74% limit.india Updated: Apr 07, 2006 12:40 IST
India's central bank has barred further purchases of ICICI Bank shares by overseas investors since their holding has reached the permitted 74 per cent limit.
"ICICI Bank has reached the limit of 74 per cent of its paid up capital," a press release posted on the central bank's website.
Policy makers set a ceiling on foreign holdings in various sectors and companies set their own limit within the overall ceiling.
For ICICI, the limit is similar to the ceiling set for the sector.