The Reserve Bank of India today notified that M/s. Lupin Limited has agreed to enhance the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs) under Portfolio Investment Scheme (PIS), through the primary market and stock exchanges, under the portfolio investment scheme (PIS)  from 24 per cent to 33 per cent of its paid up capital. The company has passed resolutions at the Board of Directors' level and resolution at Extra Ordinary General Body Meeting.

Accordingly, the equity shares and convertible debentures of the above company can now be purchased through primary market and stock exchanges provided :

1. The overall limit for FII's purchases is raised to 33 per cent.

2. The purchases of equity shares by a single Foreign Institutional Investor (FII)/Security and Exchange Board of India (SEBI) approved sub-account of a registered FII in the company does not exceed 10% (ten per cent) of the paid-up equity capital of the company.

Ajit Prasad
Assistant General Manager

Press Release : 2010-2011/1568