MUMBAI, Jan 23 (Reuters) - India's central bank has barred
foreign institutional investors (FIIs) from buying shares in
Pantaloon Retail Ltd, after the company breached the
overall limit of 24 percent of its paid-up capital.
"No further purchases of shares of this company would be
allowed through stock exchanges in India on behalf of foreign
institutional investors," the RBI said in a notification on
On Tuesday, shares of Pantaloon, India's biggest retail
group, rose as much as 10.6 percent after the central bank eased
restrictions on its share purchases by foreign institutional
investors, non-resident Indians as well as investors of Indian
The central bank removed the restrictions after the
aggregate shareholding held by these categories of investors
fell below the threshold limit under the Foreign Direct
Investment Scheme, the Reserve Bank of India said.
(Reporting by Neha Dasgupta; Editing by Susan Fenton)