Foreign investors can raise up to 100 per cent stake in Indore-based Sita Shree Food Products, the Reserve Bank said today.
Foreign institutional investors/ foreign portfolio investors were allowed to buy up to 24 per cent in the company.
Sita Shree Food Products has passed resolutions at board level and a special resolution to enhance the limit from 24 per cent to 100 per cent of the paid up capital of the company, Reserve Bank said in a notification.
It is engaged in processing of wheat, pulses, and soya oil and meal.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India under Portfolio Investment Scheme (PIS).
The RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis.
It has fixed the cut-off points two percentage points lower than the actual ceiling.
The company stock closed 0.36 per cent up at Rs 7.07 on BSE.
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