The Container Corporation of India (Concor) has sought approval from shareholders to increase the foreign institutional investor holding limit to 34 per cent from the current level of 30 per cent. Concor has a 38 per cent public float. As of December 31, FII holding in Concor was at 25 per cent, according to BSE data.
“The decision to keep the limit at 30 per cent was taken several years ago. Now, with the Railways inviting more foreign investments, we took a call to increase the limit. The decision to increase the FII limit, while capping it at 34 per cent, was taken by the Railway Ministry and Concor board together. The idea was to leave some space for the domestic investors as well,” said an official source.