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The Reserve Bank of India on Wednesday notified that foreign portfolio investors can invest up to 40 per cent of the paid-up capital in Parag Milk Foods, under the portfolio investment scheme, against the earlier limit of 24 per cent.
After the increase, the ban on the purchase of shares of Parag Milk Foods by FPIs and FIIs has been withdrawn with immediate effect, the RBI added. Currently, FPIs hold 21.21 per cent stake in the company.
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