DEA clears Rs.532 crore proposal

The Department of Economic Affairs has approved Canada Pension Plan Investment Board (CPPIB) proposal to invest in India.

CPPIB and Pantheon-HK Project Universe, LP, through Metaffinity Private Limited, will make downstream investment in Religare Health Insurance Company Limited, said a note from the Press Information Bureau 4 Jan 2018.

The partners have received approval to invest Rs.532 crore.

CPPIB has deployed US$5 billion in Indian companies since 2012, US$3 bilion of which is in Kotak Mahindra Bank, Bharti Infratel and Hexaware.

They had sought approval for foreign investment of up to 49% in the form of non-voting equity shares. fii-news.com