$52.4 million investment of Hindustan Coca Cola approved: CCEA

Subscribe to Oneindia News

New Delhi, Apr 17 (UNI) The Cabinet Committee on Economic Affairs today gave its approval to invest Rs 205 crore (52.4 million dollars approximately) in Hindustan Coca Cola Holdings (HCCH) Private Limited by their parent company to predominantly fund capital expenditure in their subsidiary Hindustan Coca-Cola Beverages Pvt Ltd (HCCB).

The approval would be subject to compliance with SEBI/RBI pricing guidelines and adherence by the company of the RBI's notification of December 14, 2007 regarding issuance of shares against application money which the company has proposed to do by March 31, 2008, Cabinet spokesperson told reporters here.

After the approval, FDI amounting to Rs.205 crore approximately will be received in the country.

UNI RT BJR RK2048

Please Wait while comments are loading...