Proposal of M/s. Shriram Financial Ventures (Chennai) Pvt. Ltd., (i) to allot shares to M/s. Sanlam Emerging Markets (Mauritius) Limited, and (ii) M/s. Sanlam Emerging Markets (Mauritius) Limited to hold, through M/s. Shriram Financial Ventures (Chennai), a stake, not exceeding 26 per cent, in M/s. Shriram Capital Limited

Press Information Bureau

Government of India

Ministry of Finance

23-August-2012 19:36 IST

Proposal of M/s. Shriram Financial Ventures (Chennai) Pvt. Ltd., (i) to allot shares to M/s. Sanlam Emerging Markets (Mauritius) Limited, and (ii) M/s. Sanlam Emerging Markets (Mauritius) Limited to hold, through M/s. Shriram Financial Ventures (Chennai), a stake, not exceeding 26 per cent, in M/s. Shriram Capital Limited

The Cabinet Committee on Economic Affairs today gave its approval to the proposal of M/s. Shriram Financial Ventures (Chennai) Pvt. Ltd. as recommended by FIPB.

The approval would result in FDI amounting to Rs.2000 crore approximately in the country.

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SC/SKS/SM