Foreign portfolio investors can now invest up to 49 per cent of the paid-up capital of Glenmark Pharmaceuticals under the portfolio investment scheme, the RBI said on Monday. FIIs now hold 34.71 per cent stake in the pharma major. FIIs, in January-March, raised their stake to 34.71 per cent from 34.62 per cent in the preceding quarter. In December, it had received shareholder nod for hiking FII holding.
