RBI allows FIIs to acquire ICICI Bank shares

Mumbai: The Reserve Bank of India has allowed foreign institutional investors (FIIs) to buy equity shares of ICICI bank from secondary markets in the country.

FII holding in ICICI Bank has come down below the trigger limit of 74 per cent of its paid-up capital. Consequently FIIs, non-resident Indians or persons of Indian origin can purchase equity shares of the bank from secondary markets, RBI said in a release.

The share purchase has to take the portfolio investment route through secondary market purchases in India, the RBI added.