CCEA approves investments in Hindustan Coca Cola

New Delhi: The Cabinet Committee on Economic Affairs gave its approval to invest $52.4 million (Rs 205 crore) in Hindustan Coca Cola Holdings Pvt Ltd by their parent company, to predominantly fund capital expenditure in their subsidiary Hindustan Coca-Cola Beverages Pvt Ltd.

An official release said that the approval would be subject to compliance with SEBI/RBI pricing guidelines and adherence of RBI’s notification of December 14, 2007 regarding issuance of shares against application money which the company had proposed to do by March 31,2008. After the approval, FDI amounting to approximately Rs 205 crore would be received in the country.