Reserve Bank of India (RBI) has notified that the foreign shareholding through Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) in Visa Steel has reached the trigger limit. Accordingly, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the RBI.
Visa Steel is a flagship company of the Visa Group, which has business interests in Steel, Power, Cement, International Trading and Urban Infrastructure etc. The Company is a leading player in the Special Steel, Ferro Chrome and Metallurgical Coke Business in India.