Fine Organic Industries IPO subscribed 39% on second day
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The IPO, to raise little over Rs 600 crore, received bids for 21,10,691 shares as against the total issue size of 53,65,497 shares, data available with the NSE showed.
from Moneycontrol IPO News https://ift.tt/2yxX1t6
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Bourses' foreign investor cap easing likely
In a move that could increase the stake of foreign investors in Indian stock exchanges, the government is considering a three-fold increase in the single-investor investment ceiling.
Currently,a foreign portfolio investor (FPI) investment in an exchange is capped at 5%.
The finance ministry has written to the regulatory authorities to increase the ceiling to 15%, said sources. The proposal is said to have in-principle approval from the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI).
The move would bring the FPI investment limit in line with those for financial institutions such as insurance companies and banks.
The government allowed the foreign investors to invest in stock exchanges in 2006, with an overall cap of 49%. This latter cap is likely to be unchanged.
BSE and the National Stock Exchange (NSE), the two large nationwide bourses, are likely to benefit from the increase in limits...
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