Reserve Bank of India (RBI) has notified that the foreign shareholding by Foreign Institutional Investors (FIIs)/Foreign Portfolio Investors (FPIs) in Indraprastha Gas has crossed the overall 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/FPIs.
IGL is engaged in distribution of CNG and PNG in Delhi. IGL laid the network for the distribution of natural gas in the National Capital of Delhi to consumers in the domestic, transport, and commercial sectors.
