Lack of clarity over MSCI inclusion of the merged entity has been one of the key reasons why the stocks have been under pressure. There were concerns that the merged entity would not have enough headroom for additional foreign investments. The investment headroom for overseas investors in the merged entity was around 12% as on September 30, while the required threshold for MSCI inclusion is 15%.
Irdai opens NDB’s Maharajah INR bonds to insurers
In a circular dated August 27, the regulator said that it had received representation from New Development Bank to permit Insurers to invest in Maharajah