Is there any limit for purchase/sale of shares/convertible debentures by NRI/OCB in secondary market?
Yes. NRI/OCB can purchase upto a maximum of five percent of the paid up capital of a company and maximum of five percent of paid up value of each series of debentures. For the purpose of this ceiling investment in repatriable and non-repatriable will be clubbed. In addition to above NRIs/OCBs collectively can hold upto a maximum of 10 % of such holding or any higher percentage so permitted in respect of any particular company. Shares/debentures acquired through primary market are excluded for the purpose of above limits.
Related Questions
- How does an NRI correct his/her position if the purchased shares / convertible debentures are in excess of the prescribed limit, if any?
- Is it mandatory to place the orders for purchase/sale of shares / convertible debentures through the Designated Bank?
- Is there any limit for purchase/sale of shares / convertible debentures by an NRI in the secondary market?
