Strides Arcolab has received an approval to increase the Foreign Institutional Investors (FII) investment limit in the company. FII’s can now invest up to 74% of the paid up equity share capital of the company under the Portfolio Investment Scheme. The current FII holding in the company is 52%.
The shareholders of the company at their Extraordinary General Meeting held on August 03, 2013, have approved for the same. As required under the FEMA Regulation, the company has made necessary intimation to the Reserve Bank of India confirming the shareholders’ approval for the increased FII investment limit.
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.
