The Reserve Bank has allowed foreign investors to raise their stake in Manpasand Beverages up to 49 per cent against 24 per cent limit earlier.
Shares of the company closed 3.65 per cent up at Rs 375.05 on BSE today.
The board of directors of the company and general body passed necessary resolutions to raise investment limit by foreign portfolio investors (FPIs), the RBI said in a notification.
"Owing to the increase in the investment limit, it is notified that the aggregate shareholding by FPIs in Manpasand Beverages has gone below the prescribed FPIs investment limit for the company.
"Hence, the restrictions placed on the purchases of shares of the company by FPIs, are withdrawn with immediate effect," the RBI said.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.
RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.
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