The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49 per cent of the paid up capital of M/s SeQuent Scientific Limited under the Portfolio Investment Scheme (PIS).

Further the Reserve Bank has notified that since the holding limit is increased to 49 per cent, the earlier limit of 32.46 per cent as notified vide Press Release No.2014-2015/2410 dated May 14, 2015 stands altered to that extent.

The Reserve Bank has stated that 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. The purchases could be made through primary market and stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20/2000-RB dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.

The Reserve Bank has notified this under FEMA 1999.

Anirudha D. Jadhav
Assistant Manager

Press Release: 2015-2016/2149