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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

India govt wants to cap Temasek, GIC joint holding in Indian companies at 10pct

Posted on 08 June 2010

From Financialexpress.com: The government wants a change in the India-Singapore Comprehensive Economic Cooperation Agreement (Ceca), to explicitly bar the city state’s investment companies Temasek and GIC from having a combined equity stake of more than 10% in any Indian listed company.
According to portfolio investment regulations stipulated by market regulator Sebi, a foreign institutional investor (FII) cannot hold more than 10% in any single Indian company. Different FIIs with a common owner are classified as an “FII group’’ and are also subject to the 10% cap…………………………………………Full Article: Source

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