The Reserve Bank of India (RBI) has allowed foreign investors to raise their stake in Manpasand Beverages up to 49% against 24% limit earlier. The apex bank has withdrawn the restrictions placed on the purchases of shares of the company by FPIs with immediate effect.
Earlier, the board of directors of the company and general body passed necessary resolutions to raise investment limit by foreign portfolio investors (FPIs).
Manpasand Beverages is India’s only pure play beverage company with a flagship brand, ‘Mango Sip’.
