Reserve Bank of India (RBI) has notified that the foreign shareholding through Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in Trent has crossed the limit of 24% of its paid-up capital. Accordingly, no further purchases of shares of this company would be allowed through Stock Exchanges in India on behalf of FIIs/RFPIs.
Trent is part of the Tata Group and is engaged in business of retailing. Trent acquired 76% stake in Landmark, one of the largest books and music retail chains in the India.
