The Reserve Bank of India (RBI) said that the foreign shareholding through Foreign Institutional Investors (FIIs) and Registered Foreign Portfolios Investors (RFPIs) in Power Grid Corporation of India has reached the trigger limit.

Therefore, further purchases of equity shares of this bank would be allowed only after obtaining prior approval of the Reserve Bank of India.

Shares of the company declined Rs 4.6, or 3.24%, to trade at Rs 137.55. The total volume of shares traded was 175,957 at the BSE (11.44 a.m., Tuesday).