Foreign investors can invest up to 40% in Somany Ceramics

The Reserve Bank has allowed foreign investors to invest up to 40 per cent of the paid-up capital in tiles maker Somany Ceramics.
Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 40 per cent of the paid up capital of Somany Ceramics Limited under the Portfolio Investment Scheme (PIS), RBI said in a notification.
As per data available on BSE, FIIs held 5.79 per cent in Somany Ceramics as of March 31, 2015.
Also, RBI has removed Ipca Laboratories from its ban list for further investment by foreign investors, raising such limit to up to 35 per cent.

FIIs held 20.14 per cent in Ipca Laboratories as of quarter ended March 3015, as per BSE data.
"...The foreign shareholding by FIIs/RFPIs Ipca Laboratories Ltd. Has gone below the revised threshold caution limit. Hence the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect," RBI said.
RBI said FIIs and RFPIs can now invest up to 35 per cent of the paid up capital of Ipca Laboratories under PIS.
Share of Somany Ceramics ended 1.39 per cent higher at Rs 407.10 on BSE, while Ipca Laboratories ended 1.92 per cent dow at Rs 652.75.