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Business EconomyPosted at: Oct 18 2017 4:28PM


RBI hikes Claris Lifesciences' FPI investment limit to 49 percent

Mumbai, Oct 18(UNI)Reserve Bank of India has allowed foreign investors to raise their stake in Claris Lifesciences to 49 percent. "Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors
(FPIs) investment limit under Portfolio Investment Scheme in Claris Lifesciences has increased from 24 percent to 49 percent of its paid up capital," the RBI said in a notification.
Further, the RBI said the investment limit by NRIs has gone up to 24 percent from the existing 10 percent.
"Owing to the increase in the investment limit, it is notified that the aggregate shareholding by FIIs/FPIs in Claris Lifesciences has gone below the prescribed FIIs/FPIs investment limit for the company," it said.
Hence, the restrictions placed on the purchase of shares of the above company by FIIs/FPIs are withdrawn with immediate effect, the RBI added.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.
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