Den Networks receives RBI approval for FDI hike
Den Networks receives RBI approval for FDI hike
Details
Rebecca Hawkes
| 28 October 2015
Den Networks can now increase its foreign direct investment by up to 74% from the existing 49% limit, after the Reserve Bank of India granted the Indian multi-system operator permission.
The move follows the approval of the Foreign Investment Promotions Board in July, and the original decision in March from Den's board of directors to increase the foreign investment limit.
Den's company secretary Jatin Mahajan has informed the Bombay Stock Exchange and the National Stock Exchange that the limit can be raised to 74% by foreign institutional investors, non-resident Indians, foreign portfolio investors and other eligible foreign investors.
Den is expanding its broadband base and moving towards digitising its cable network in areas covered by phase III and IV of the national digitisation programme.
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