Foreign Investment Promotion Board (FIPB) has approved the Lupin's proposal for increasing the limit of investment by Foreign Institution Investors (FIIs) in the equity share capital of the company from 33 per cent to 49 per cent.
As at the end of December 2014, Promoters' were holding 46.66 per cent of equity capital. FIIs were holding 31.77 per cent and Domestic Institution 10.74 per cent. Lupin's equity capital as at the end of December 2014 stood at Rs. 89.79 crore. Lupin scrip moved up by Rs. 15.75 in the morning session today on BSE to Rs. 1571.40.
FIPB in their meeting held on November 21, 2014, recommended the proposal for the consideration of the Cabinet Committee on Economic Affairs (CCEA). The cabinet committee approved the proposal for increasing the investments FIIs in the equity share capital.