The government today cleared UBS India's plans to acquire domestic NBFCs as part of approval granted to 23 Foreign Direct Investment (FDI) proposals involving investments of Rs 418.33 crore.
The proposals approved by Finance Minister P Chidambaram will allow UBS (India) to acquire shares of the existing non-banking finance companies (NBFCs) with an estimated investment of Rs 224 crore.
These proposals were recommended by FIPB for approval by the Finance Minister, an official statement said.
The minister also approved the proposal of four foreign investors to pick stake in the Bombay Stock Exchange at an investment of Rs 13 lakh. Consequent to this, FDI in BSE could go up to 16%.
Read more in The Business Standard article.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment