India okays Goldman, Macquarie investment in PTC

India okays Goldman, Macquarie investment in PTC

New Delhi: India on Friday approved proposals by Goldman Sachs and Macquarie to invest a total of Rs156 crore ($39 million) for a 40% stake in PTC India Financial Services.

The finance ministry said in a statement it had approved 22 foreign direct investment proposals worth Rs511 crore.

Shares in PTC, which plans to invest in India’s energy and infrastructure sectors, were up almost 10% at Rs149.30, in a Mumbai market rose 0.9%. The government also cleared International Finance Corp’s plan to invest 1.52 billion rupees for 18% of Indian financial services firm Angel Infin Pvt Ltd.

Sical Logistics has been permitted to sell a 26% holding in its unlisted subsidiary, Sical Infra Assets Ltd, to foreign investors for Rs107 crore.

Japanese firm Metal One Corp, a subsidiary of Mitsubishi Corp, got clearance for setting up a wholly owned trading subsidiary in India for an initial investment of Rs29 million.

US-based Croupier Prive Private Equity Fund has been permitted to invest Rs160 million for a 5% stake in Central Depository Services Ltd.