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The Cabinet Committee on Economic Affairs (CCEA) today gave its approval to the proposal of M/s. Holderind Investments Ltd. for amending the existing FC approval to permit FDI upto US$1.2 billion (Rs.4885 crore) by way of :
(i) Holdcem Cements Pvt. Ltd. and Holderind Investments Ltd. acquiring upto 100 per cent of the total paid up share capital of Ambuja Cement India Ltd.
(ii) Contributing Rs.810,03,07,061 to subscribe to redeemable cumulative preference shares of Ambuja Cement India Ltd.
(iii) Holdcem Cements Pvt. Ltd., through Ambuja Cement India Ltd., enhancing Ambuja Cement India Ltd.’s shareholding percentage in the Associated Cement Companies Ltd. From 13.84% upto 50.01 per cent.
(iv) Holdcem Cements Pvt. Ltd., through Ambuja Cement India Ltd., acquiring 100 per cent of the paid up equity share capital of Ambuja Cement Eastern Ltd.
RK/HS/LV
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