Reserve Bank of India (RBI) has increased foreign institutional investors' (FIIs) investment limit in SeQuent Scientific to 32.46% of its paid-up capital. The company has already passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs.
RBI has notified that FIIs/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 32.46% of the paid up capital of SeQuent Scientific under the Portfolio Investment Scheme (PIS).
Sequent Scientific is an integrated pharmaceutical company with a global footprint headquartered in Bangalore, India which has presence in different pharmaceutical verticals including APIs, Animal Health, Analytical Services, CRAMS and specialty chemicals. Sequent is the world's largest producer of Anthelmintics and by far the strongest player in the Veterinary API business.
