Reserve Bank of India (RBI) has increased the foreign holding limit to 30% of the paid-up capital in Grasim Industries under the portfolio investment scheme (PIS). The central bank has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from up to 30% of the paid up capital of Grasim Industries under the PIS. The company has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit from default 24% to 30% for the purchase of its equity shares by FIIs/RFPIs.
Grasim Industries is the flagship company of the Aditya Birla Group. Starting as a textiles manufacturer in 1948, today Grasim’s businesses comprise viscose staple fibre (VSF), cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.
Company Name | CMP |
---|---|
Grasim Industries | 2526.90 |
DCM Shriram | 1067.70 |
Birla Corporation | 1253.05 |
Surya Roshni | 561.85 |
3M India | 30654.05 |
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