New Delhi, Jan 29: The govt Wednesday approved HDFC Bank’s proposal to boost Rs.10,000 crore from foreign investors.
The Cabinet Committee on Economic Affairs (CCEA) gave its approval to the bank’s proposal at its meeting control here.
“The CCEA gave its approval to the proposal of HDFC Bank for issue of equity shares aggregating to an quantity of Rs.10,000 crore to NRIs/FIIs/FPIs (non-resident Indians, foreign institutional investors or foreign portfolio investors),” the CCEA aforesaid in a statement.
According to the statement, the approval is subject to mixture foreign property not exceptional seventy four % of the post-issue paid capital.
“The approval would end in foreign investment of Rs.10,000 crore within the country,” the statement additional.
In December, the Foreign Investment Promotion Board (FIPB) cleared the HDFC Bank’s proposal to boost the capital from foreign investors.
