Union Finance Ministry approved two FDIs in December 2017
New Delhi, Jan 4 (IBNS): The Union Ministry of Finance said on Thursday that in December 2017, it has approved two Foreign Direct Investment (FDI) proposals.
One of the proposals sought approval for foreign investment of upto 49 per cent in the form of non-voting equity shares by two foreign investors, viz. Canada Pension Plan Investment Board and Pantheon-HK Project Universe, LP, in Metaffinity Private Limited.
Metaffinity Private Limited is an investment holding company, which will make downstream investment in Religare Health Insurance Company Limited, an Indian company engaged in health insurance business.
The FDI is worth approximately Rs 532 crore, the ministry said.
The other proposal was applied for by SMAS Auto Leasing India Pvt Ltd to undertake financial lease business in addition to the existing operating lease business.
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