The Reserve Bank of India in a press release notified that FIIs or Foreign Institutional Investors can now up their stake in Dabur India Limited to 30%. In a release the apex body said "Foreign Institutional Investors (FIIs), through primary market and stock exchanges, can now purchase up to 30 per cent of the paid up capital of M/s Dabur India Limited under the Portfolio Investment Scheme (PIS)". Through the PIS scheme, FIIs, PIOs and NRIs are allowed to invest in primary and secondary capital markets in India.
The notification by the central bank follows the special resolution passed by the company to increase the limit of FII stake in its equity shares and convertible debentures.
As quoted in one of the business dailies, FIIs stake in the company in the quarter ended December, 2013 stood at 19.94%. Meanwhile stock of the company was trading higher by 0.92% at 176.20 on the Bombay Stock Exchange.
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