Coca Cola increases its investment in India
Proposal of M/S. Hindustan Coca Cola Holdings Pvt. Ltd. (HCCH) for investment of US$ 52.4 million by their parent company to be used to fund capital expenditure in their subsidiary M/S. Hindustan Coca Cola Beverages Pvt. Ltd. (HCCB) has been approved.
The Cabinet Committee on Economic Affairs today gave its approval to invest US$ 52.4 million (Rs.205.00 crore approximately).
The approval would be subject to compliance with SEBI/RBI pricing guidelines and adherence by the company of the RBI’s notification of 14.12.2007 regarding issuance of shares against application money which the company has proposed to do by 31.3.2008.
After the approval, FDI amounting to Rs.205 crore approximately will be received in the country.
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