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RBI hikes foreign investment limit in Eris Life to 49% from existing 24%

Also, NRI investment limit under PIS in the company has increased from 10 per cent to 24 per cent

Press Trust of India  |  Mumbai 

Reserve Bank of India (Photo: Kamlesh D Pednekar)
Reserve Bank of India (Photo: Kamlesh D Pednekar)

Reserve Bank has allowed foreign investors to raise their stake in Eris Lifesciences to 49 per cent from existing 24 per cent limit.

Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) investment limit under (PIS) in Eris Lifesciences has increased from 24 per cent to 49 per cent of its paid up capital, said in a notification.


Also, the limit under PIS in the company has increased from 10 per cent to 24 per cent.

said the increase in foreign shareholding is subject to Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations.

FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.

monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, August 22 2017. 20:24 IST
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