Secures both FIPB and CCEA approval for hike in FIIs investment
Lupin announced that subsequent to the approval of shareholders at the 31st Annual General Meeting held on 07 August 2013, the Company submitted an application dated 14 November 2013, to the Foreign Investment Promotion Board (FIPB), for increasing the limit of investment by Foreign Institution Investors (FIIs) in the equity share capital of the Company from 33% to 49%.FIPB in their meeting held on 21 November 2014, recommended the proposal for the consideration of the Cabinet Committee on Economic Affairs (CCEA).
Further the Company has informed that, further to FIPB's recommendation, on 28 January 2015, the CCEA approved the proposal for increasing the investments by FIIs in the equity share capital of the Company from 33% to 49%.
Powered by Capital Market - Live News