Bajaj Corp gets nod to increase FII limit to 49%

31 Dec 2014

Bajaj Corp has received its shareholders’ approval to increase the aggregate investment limit of Foreign Institutional Investors (FIIs) from 24% to 49% of the paid-up equity capital. Earlier, the board of directors of the company at its meeting held on November 28, 2014, has passed necessary resolution for increase in the limit of total holding of all Registered Foreign Portfolio Investors (RFPI) with existing class of investors namely FIIs and Qualified Foreign Investors (QFIs) registered with SEBI in respect of their existing shareholding in the Company, put together in equity share capital of the company from existing 24% to 49%.

Bajaj Corp is engaged in the manufacturing of hair oils. The company markets its hair oil under the brand names Brahmi Amla, Amla Shikakai and Jasmine hair oil.

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