Foreign investors were today allowed by the Reserve Bank to buy up to 32.46 per cent stake in SeQuent Scientific Limited.
Foreign Institutional Investors (FIIs) or Foreign Portfolios Investors (FPIs) can now invest up to 32.46 per cent of the paid up capital of SeQuent Scientific Limited under the Portfolio Investment Scheme, RBI said in a circular.
The increased FII limit follows the company's board and shareholders passing a special resolution to enhance the cap for the purchase of its equity shares and convertible debentures by FIIs and FPIs.
Started in 2002, SeQuent is an pharmaceutical company operating in animal health (Active Pharmaceutical Ingredients/ API and formulation) and human health (API) segments.
For animal health, the company caters to global market requirements and focus on products for livestock, poultry and companion animals. Its value proposition include laboratory and technical support services.
For human health business, it is focused on development and supply of high-value, low-volume APIs.
