Jubilant Life Sciences gains on RBI nod to hike FII limit to 45%

FIIs held 17.56% stake in Jubilant Life Sciences as of 30 Sep 2015

Shares of Jubilant Life Sciences were up nearly 3% at Rs 432 on the Bombay Stock Exchange after the Reserve Bank of India (RBI) notified that foreign investors can now invest up to 45% of the paid-up capital of the company.

The Reserve Bank of India (RBI) on Friday notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 45% of the paid up capital of Jubilant Life Sciences under the Portfolio Investment Scheme (PIS). Earlier, the investment limit was up to 24% of the paid up capital of the company.

FIIs held 17.56% stake in Jubilant Life Sciences as per the shareholding pattern data on the BSE as of 30 September 2015.

The stock opened at Rs 426 and touched a high of Rs 436. At 10am, over 300,000 shares were traded on both the stock exchanges.