Officials of the Finance Ministry and the DIPP will meet tomorrow to deliberate on the proposal to raise the overseas shareholding limit in HDFC Bank.
Officials of the Finance Ministry and the DIPP will meet tomorrow to deliberate on the proposal to raise the overseas shareholding limit in HDFC Bank.
The meeting of senior officials of the Department of Economic Affairs and the Department of Industrial Policy and Promotion (DIPP) would examine the bank's proposal and decide on whether the 22.64 per cent stake of parent entity HDFC Ltd is foreign investment or not, sources said.
According to sources, if the proposal of the bank to raise foreign investment to 67.55 per cent is accepted, it would exceed the cap of 74 per cent, after taking into account parent HDFC Ltd's stake.
HDFC Ltd, which is 75.71 per cent owned by FIIs, and associate companies hold 22.64 per cent in HDFC Bank . Their investments in HDFC Bank were made before 2009, when the government came out with norms to calculate the level of foreign investment in companies.
"Downstream investment by HDFC Ltd prior to 2009 in HDFC Bank would be deemed as FDI in case there is any change in the shareholding pattern after the cut-off year," they said.
Last week, FIPB did not take up HDFC Bank's proposal.
HDFC Bank had approached the Foreign Investment Promotion Board (FIPB) in the latter half of 2013 to increase the foreign holding in the bank to 67.55 per cent from 49 percent.
Also Read: RBI unsupportive of HDFC Bank's plea to raise FII holding
HDFC Bank stock price
On April 17, 2014, HDFC Bank closed at Rs 714.00, down Rs 11.25, or 1.55 percent. The 52-week high of the share was Rs 760.50 and the 52-week low was Rs 528.00.
The company's trailing 12-month (TTM) EPS was at Rs 35.34 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 20.2. The latest book value of the company is Rs 186.31 per share. At current value, the price-to-book value of the company is 3.83.
Anda sedang membaca artikel tentang
FinMin, DIPP to meet on HDFC Bank FDI proposal on Tue
Dengan url
https://citraasa.blogspot.com/2014/04/finmin-dipp-to-meet-on-hdfc-bank-fdi.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
FinMin, DIPP to meet on HDFC Bank FDI proposal on Tue
namun jangan lupa untuk meletakkan link
FinMin, DIPP to meet on HDFC Bank FDI proposal on Tue
sebagai sumbernya
0 komentar:
Posting Komentar