Grasim Board okays rise in FII investment limit

MUMBAI: Aditya Birla group company Grasim Industries on Monday said shareholders have approved raising the foreign investment limit in the company to 30%. The increase

MUMBAI: Aditya Birla group company Grasim Industries on Monday said shareholders have approved raising the foreign investment limit in the company to 30%. The increase in the investment limit for registered foreign portfolio investors (RFPIs)/ foreign institutional investors (FIIs) from the currently approved 24% to 30% of the company’s equity share capital, and the sub-division of shares will be effective post approval from the RBI, the company said. The enhanced limit will create headroom for RFPIs/FIIs allowing them to make further investments in the company’s equity shares, a company statement said.

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