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Sovereign Wealth Funds Briefing - Categorized | Financials, Market, Trends

India: LIC as sovereign wealth fund?

Posted on 23 November 2012

Assuming the government is right about Life Insurance Corporation of India (LIC) to scale up its stake, why isn’t it equally right for the foreign institutional investors (FIIs) to also be allowed similar freedom in their holdings? The current Sebi regulations for FIIs allows them to hold only up to 10 per cent in the listed shares of a company. As a group they are allowed to hold up to 24 per cent in any company.
The limit can be breached up to 49 per cent by a special resolution of the board of directors of the company, provided the sectoral cap for the sector is not breached………………………………………..Full Article: Source


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