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

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 Portfolio Investment Scheme (PIS) in Eris Lifesciences has increased from 24 per cent to 49 per cent of its paid up capital, RBI said in a notification.

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

RBI 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.

RBI 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.