Foreign institutional investors (FIIs) have increased their stake in The Great Eastern Shipping Company (GE Shipping) and their purchase has reached the trigger limit of 24%.
The Reserve Bank of India (RBI) notified that FIIs has crossed the limit of 24% of paid-up capital of the company. Therefore, no further purchases of shares of this company would be allowed through stock exchanges in India on behalf of FIIs.
Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.
