On November 22nd, 2013, the Board of Directors of Dabur India Ltd approved increasing the investment limit for Foreign Institutional Investors (FIIs) from 24% to 30% of the total paid up capital of the company.
“Currently, FIIs hold around 21% shares of the company, which is likely to exceed 24% very shortly. With increased participation by FIIs in the Indian capital market, we have decided to increase the FII investment limit to 30% for investment in company’s capital under the Portfolio Investment Scheme (PIS). The Board of Directors, through a postal ballot, today approved the proposal,” Dabur India Ltd Group Director Mr. P D Narang said.
Dabur India Ltd would now be seeking its shareholders’ approval for the FII limit hike through a Postal Ballot in accordance with Section 192A of the Companies Act, 1956.
