RBI increases FII limit in SeQuent Scientific to 49%

Reserve Bank of India (RBI) has increased foreign institutional investors' (FIIs) investment limit in SeQuent Scientific to 49% of its paid-up capital on March 11, 2016. RBI has notified that FIIs/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49 per cent of the paid up capital of SeQuent Scientific under the Portfolio Investment Scheme (PIS).  The company has 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 by FIIs/RFPIs.

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.