Reserve Bank of India (RBI) has notified that the foreign shareholding through Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in Prestige Estate Projects has crossed the limit of 24 per cent of its paid up capital. Accordingly, no further purchase of shares of this company would be allowed through stock exchanges in India on behalf of FII/RFPIs.
Prestige Estates Projects is a property development and the flagship company of Prestige Group. Since its formation in 1986, the company has grown swiftly to become one of South India's leading Property Developers, helping shape the skyline across the Residential, Commercial, Retail, Leisure & Hospitality sectors.
