Govt approves Enam's Rs 3,450 cr FDI proposal

The government today approved a proposal of Mauritius-based Enam India Infrastructure Fund to undertake foreign direct investment (FDI) of Rs 3,450 crore in the country.

Enam India Infrastructure Fund, Mauritius would make the investment in its Indian arm, Enam India Infrastructure Fund.

It is part of the brokerage group Enam.

"The approval would result in FDI amounting to Rs 3,450 crore in the country," an official statement said.

These funds are expected to be invested in equity and equity-linked investments in infrastructure and energy sectors.

"(Approval has been given to) the proposal of Enam India Infrastructure Fund, Mauritius to invest in and subscribe to the class A units to be issued by Enam India Infrastructure Fund," the statement said.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Manmohan Singh, approved the proposal after the same was referred to it by the Foreign Investment Promotion Board in December last year.