FDI proposals worth Rs 532 cr approved

The central government on Thursday said that it has approved two foreign direct investment (FDI) proposals worth Rs 532 crore, including one from Metaffinity.

"During the month of December 2017, the Department of Economic Affairs (DEA), Ministry of Finance has disposed of two FDI proposals involving foreign investment of Rs 532 crore," an official statement said.

The proposal of Metaffinity sought approval for getting foreign investment up to 49 per cent in the form of non-voting equity shares by two investors, Canada Pension Plan Investment Board and Pantheon-HK Project Universe.

Metaffinity is an investment holding company, which will make a downstream investment in Religare Health Insurance Company Limited which is engaged in health insurance business.

--IANS

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