The Reserve Bank of India (RBI) has allowed foreign investors to raise their stake in Claris Lifesciences to 49 percent under the portfolio investment scheme (PIS).
“Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in Claris Lifesciences Ltd has increased from 24 per cent to 49 per cent of its paid up capital,” the RBI said in a notification.
Further, the RBI said the investment limit by NRIs has gone up to 24 percent from the existing 10 percent.
“Owing to the increase in the investment limit, it is notified that the aggregate shareholding by FIIs/FPIs in Claris Lifesciences has gone below the prescribed FIIs/FPIs investment limit for the company,” it said.
Hence, the restrictions placed on the purchase of shares of the above company by FIIs/FPIs are withdrawn with immediate effect, the RBI added.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.
The RBI monitors 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.
Stock of Claris Lifesciences closed 1.46 per cent up at Rs 350.75 on BSE on Tuesday.