The Department of Economic Affairs (DEA) has approved two Foreign Direct Inevstment (FDI) proposals involving investment to the tune of Rs. 532 crore in December 2017.
One of the investment proposals sought approval for foreign investment of up to 49 percent in the form of non-voting equity shares by two foreign investors, M/s Canada Pension Plan Investment Board and M/s Pantheon-HK Project Universe, LP, in Metaffinity Private Limited, an investment holding company, which will make downstream investment in Religare Health Insurance Company Ltd., an Indian company engaged in health insurance business.
The other one, the ministry noted, was made by M/s SMAS Auto Leasing India Pvt. Ltd. to undertake financial lease business in addition to the existing operating lease business.