The Cabinet Committee on Economic Affairs has approved the proposal for acquisition of 100 percent equity stake of M/s Prizm Payment Services Private Limited by M/s Hitachi Consulting Software Services India Private Limited and M/s Hitachi Limited, Japan.

The approval would result in foreign investment of approximately Rs.1540 crore in the country.

Foreign investment approval permits acquisition of domestic payments firm by foreign entities, altering ownership structure. Cabinet approval authorises acquisition of 100 percent equity stake in M/s Prizm Payment Services Private Limited by M/s Hitachi Consulting Software Services India Private Limited and M/s Hitachi Limited, Japan, enabling cross border investment and resulting in a material foreign investment into the country and transfer of complete ownership to the acquiring foreign entities.