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RBI okays foreign investors to up stake in Natco Pharma to 49%

Press Trust of India  |  Mumbai 

Reserve has allowed foreign investors to increase their investment in to 49 per cent from existing 31.50 per cent.

Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) can now invest from 31.50 per cent to 49 per cent of the paid up capital of Limited under the Portfolio Investment Scheme, the RBI said in a notification.

The RBI said passed resolutions at its Board of Directors' level and a special resolution by general body to raise FII/FPI investment limit from 31.50 per cent to 49 per cent.

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

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

Stock of Natco Pharma closed 3.02 per cent up at Rs 934.15 on

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 15 2017. 21:57 IST