Express Pharma

Granules India gets board nod to raise foreign investment limit

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The foreign investment limit has been raised to to 49 per cent

Granules India said its board has approved a proposal to increase the foreign investment limit in the company to 49 per cent.

The board of directors has agreed to increase the present limit of FII/ FPIs shareholding in the company to 49 per cent of the total paid-up equity share capital, Granules India said in a BSE filing.

However, it said, the decision would be subject to shareholders’ approval.

As on March 31, 2017, FPI holding in the company stood at 9.98 per cent. Other foreign nationals owned 0.06 per cent.

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