Money & Banking

Edelweiss Tokio Life seeks FIPB nod to hike stake in JV to 49%

Our Bureau Mumbai | Updated on January 24, 2018

Edelweiss Tokio Life Insurance has filed an application with the Foreign Investment Promotion Board (FIPB) to increase its stake of its joint venture (JV) partner Tokio Marine to 49% in the company.

Its current stake in the company is 26 per cent.

The decision to raise the stake comes after the Parliament allowed foreign companies to increase their stake in India by up to 49 per cent by opening up foreign direct investment (FDI) in the insurance sector.

Published on May 28, 2015

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