FIPB green signal to the rise of foreign shareholding limit of Axis Bank
By Vaibhav Aggarwal
Sep 23, 2013
Print    Email    RSS   

The Foreign Investment Promotion Board (FIPB) has given a green signal to a group of suggestions, incorporating bringing of remote holding up in Axis Bank to 62 for every penny. The different suggestions the Board affirmed by the Board included Indian Rotocraft, Shantha Biotech, HCL Technologies.

At present international investors of Axis bank hold 49 per cent, Gdrs/adrs at 8.08 per cent and FII stake at 40.7 per cent/ On the Bombay Stock Exchange, Axis Bank ended the day at Rs 1,140.25, up 5.56 percent on Thursday.

The Board consumed the same amount as 32 suggestions, incorporating six in the pharma area, to hike the overseas investment limit. Shantha Biotechnics proposal has been cleared, this would require an overseas investment of atleast Rs. 755 crore.

Proposals by Laurus Labs and Kinedex Healthcare were deferred. Sources also stated that Korea's SD Bio Standard Dignostic's application to infuse a sum of $ 5 million in a domestic compnay has also been given a green signal.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Carnival of Indian Personal Finance Blogs #4
Personal Finance for the 21st century...
Carnival of Indian Personal Finance Blogs #3
Savings account portability: How...
How to check balance in savings bank account

last six months statement

HDFC bank adjudged as the Best private bank in India Feb 16, 2015
HDFC reported an increase of 20% in its net profit Feb 16, 2015
ICICI bank launched Flash remit facility Feb 13, 2015
BOM launched new savings deposit scheme for HNI customers Feb 12, 2015
BMB bank to have a total of 80 branches by the March end. Feb 10, 2015
News Archive