GRASIM IN­DUS­TRIES GETS RBI NOD TO HIKE FOR­EIGN IN­VEST­MENT TO 49 PER CENT

Marwar - - All Things [Great And Small] -

Ac­cord­ing to re­ports, Grasim In­dus­tries has re­ceived ap­proval from the Re­serve Bank of In­dia to raise for­eign share­hold­ing to 49 per cent from the ex­ist­ing limit of 30 per cent. The same has been ap­proved un­der the port­fo­lio in­vest­ment scheme (PIS). Grasim In­dus­tries is a flag­ship com­pany of the Aditya Birla Group. It com­menced op­er­a­tions in 1948 as a tex­tiles man­u­fac­turer. To­day, its busi­nesses com­prise the man­u­fac­ture of vis­cose sta­ple fi­bre, ce­ment, tex­tiles and chem­i­cals. To in­crease FIIs/ FPIs’ in­vest­ment limit, the com­pany has passed nec­es­sary res­o­lu­tions at the board of di­rec­tors’ level. A spe­cial res­o­lu­tion by its gen­eral body has also been passed.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.