RBI denies share purchase of Indiabulls

Mumbai, Apr 13 (UNI) The Reserve Bank of India (RBI) today notified that no further purchases of equity shares of Indiabulls real estate limited should be made on behalf of foreign institutional investors (FIIs), under portfolio investment scheme (PIS) through stock exchanges in India.

Indiabulls has reached the limit of 24 per cent of its paid up capital, the central bank stated in a release here.

UNI