Aurobindo pref issue gets shareholder nod

The EGM also approved the resolution increasing the investment limit of foreign institutional investors (FIIs) from 24 per cent to 49 per cent of the paid-up capital.

While the FIIs currently hold 13.89 per cent stake in the company, it will go up to 20 per cent in the expanded equity base of Rs 28 crore after the preferential offer.