Fiis Scale Up Pie In Dr Reddy & #39;S

The FIIs (foreign institutional investors) holding in Dr Reddy's Laboratories went up by about 1.5 per cent in the two months period ended September 30, 2001.

According to the latest share distribution schedule of the company, FIIs hold 21.45 per cent stake as on September 30, compared with 20 per cent as on July 31, 2001. The increase in FIIs holding was mainly compensated by the fall in Indian public holding from 17 per cent to 14.5 per cent in the same period.

With a view to enabling the FIIs to invest further in the shares of the company, Dr Reddy's annual general meeting held on August 17 passed a resolution enhancing the upper limit of FII holding from 30 per cent to 49 per cent.

As on September 30, non-resident Indians/ overseas corporate bodies (NRIs/OCBs) hold 4.91 per cent stake in the company, while American depository receipts (ADRs) account for 21.99 per cent of the paid-up capital of the company.

While the promoters of the company hold 26.03 per cent stake in the company, interestingly almost all these shares are still held in the physical form.