FPIs can now invest upto 49% in Laurus Labs and NRIs upto 24%: RBI

India Infoline News Service | Mumbai | December 02, 2016 17:10 IST

The Reserve Bank has stated that Laurus Labs has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/FPIs/NRIs. The purchases could be made through primary market and stock exchanges.

Reserve Bank of India logo
The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) can now invest from the existing 24% up to 49% and Non-Resident Indians (NRIs) can invest upto 24% of the paid up capital of Laurus Labs under the Portfolio Investment Scheme (PIS).

The Reserve Bank has stated that Laurus Labs has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/FPIs/NRIs. The purchases could be made through primary market and stock exchanges.

The Reserve Bank has notified this under FEMA 1999.
 

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