PI Industries raises FII investment limit in company to 40%

PI Industries has increased the limit on the stake that foreign institutional investors can hold in the company to 40 per cent of the paid up capital.
    
The increase in the limit from 24 per cent was approved by shareholders at the last annual general meeting, the company said in a BSE filing.
    
The Reserve Bank of India has issued a letter dated September 13 informing custodian banks of the higher FII limit in PI Industries, the filing added.
    

The company makes and sell agrochemicals, plant nutrients, fertilisers and hybrid seeds and also provides contract research and contract manufacturing services.

    
PI Industries shares rose 0.12 per cent to Rs 130 in late afternoon trade today