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The BSE and the NSE will scrap a window that allowed foreign investors to trade among themselves in the shares of companies that exhausted foreign holding cap. “The exchange will discontinue the Six-lakh Series from July 1 in the equity segment,” Asia’s oldest exchange said in a circular.
The NSE would discontinue the institutional trading series (IL series) with effect from July 1 in the capital market segment.
According to SEBI, in the event of the breach of aggregate FPI/NRI/Sector cap limit, FPIs are required to divest the excess quantity by selling them to domestic investors.
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