Bangalore-based pharma major Strides Arcolab has received its board’s approval to increase the limit of investments by Foreign Institutional Investors (FIls) in the equity share of the company from 49 per cent to 74 per cent. The company’s board gave the approval for the same on July 4. 2013.
The ceiling for investment by FIIs in the equity share of the company was capped at 49 per cent of its paid-up equity capital.
Strides Arcolab is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.
