Hathway gets FIPB nod to hike investment limit to 74%

NEW DELHI: Raheja Group-promoted Hathway Cable and Datacom has received FIPB approval to increase foreign investment limit in the firm from the existing 49 per cent to 74 per cent under the automatic route.

"FIPB have approved the above increase i.e. from 49 per cent of its issued and fully paid up share capital under the automatic route to 74 per cent of its issued and fully paid up share capital...under Portfolio Investment Scheme vide its letter dated August 03, 2015," Hathway Cable and Datacom informed BSE.

The company, which provides cable and internet services, had applied before FIPB for increasing the limit for Foreign Institutional Investors.