During the month of September 2017, the Department of Economic Affairs has disposed of six FDI proposals aggregating to foreign investment of ₹ 85.45 crore, as per details attached.
The following four (04) proposals have been approved:
|
S. No
|
Name of the applicant
|
Gist of the proposal
|
FDI (Rs. in crore)
|
|
1
|
Aashiyaan Housing & Development Finance Pvt Ltd
|
Approval for foreign investments from M/s Insitor Impact South Asia Pte Ltd, Singapore and M/s Oikocredit Ecumenical Development Cooperative Society U.A, Netherlands (‘Foreign Investors’) to commence its operations as a micro housing finance company in eastern India focusing on Tier II and Tier III towns and surrounding rural areas.
|
10.00
|
|
2
|
India Ports & Logistics Pvt Ltd
|
Acquisition of additional stake of up to 70.40% of M/s India Ports & Logistics Private Limited by M/s Bollore Africa Logistics SAS
|
75.35
|
|
3
|
Principal Pnb Asset Management Pvt Ltd
|
Post-facto approval for the indirect foreign investment made in M/s MF Utilities India Private Limited
|
0.05
|
|
4
|
Invesco Asset Management Pvt Ltd
|
Post-facto approval for the indirect foreign investment made in M/s MF Utilities India Private Limited
|
0.05
|
The following one (01) proposal has been withdrawn:
|
S. No
|
Name of the applicant
|
Gist of the proposal
|
|
1
|
CRISIL Ltd
|
Undertaking peer-to-peer lending platform business by itself or through one of its subsidiaries.
|
The following one (01) proposal does not lie before DEA:
|
S. No.
|
Name of the applicant
|
Gist of the proposal
|
|
1
|
HSBC Securities and Capital Markets (India) Pvt Ltd
|
Merger of the approval letter no FCII 229(1994)/300(1994) dated 13.05.1994 (read along with 18 amendments) and approval letter no FC II 160(2005)/157(2005) dated 21.06.2005;
Incorporating a wholly owned subsidiary(WoS) which will act as a trustee company to HSBC Mutual Fund; and
HSBC Invest Direct Financial Services (India) Limited [WoS of HSBC Invest Direct (India) Ltd] to engage into additional activities – referral services.
|
