Container Corporation Of India Ltd.

Container Corporation of India (Concor) has sought approval from shareholders to increase the foreign institutional investor (FII) holding limit to 34 per cent from the current level of 30 per cent. Concor has a 38 per cent public float. As of December 31, FII holding in Concor was at 25 per cent.

The decision to keep the limit at 30 per cent was taken several years ago. Now, with the Railways inviting more foreign investments, the company took a call to increase the limit. The decision to increase the FII limit, while capping it at 34 per cent, was taken by the Railway Ministry and Concor board together.

Container Corporation of India was established in 1988 and works mainly in three verticals -- cargo terminal, terminal operator and warehouse operator.