RBI hikes foreign investment limit in Eris Lifesciences to 49%

The RBI has allowed foreign investors to raise their stake in Eris Lifesciences to 49% from the existing 24% limit.

Mumbai : The Reserve Bank of India (RBI) has allowed foreign investors to raise their stake in Eris Lifesciences to 49% from existing 24% limit.

Foreign institutional investors (FII)/foreign portfolios investors (FPIs) investment limit under portfolio investment scheme (PIS) in Eris Lifesciences has increased from 24% to 49% of its paid up capital, the RBI said in a notification.

Also, the Non-resident Indian (NRI) investment limit under PIS in the company has increased from 10% to 24%.

The 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.

The 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.

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