Two FDI Proposals Amounting to RS. 89.33 Crore Approved by the Government

Print Posted Date : 29-Apr-2013 , 10:29:59 pm | Posted By CASANSAAR

Listen to this Article

0:00

Further to para 8 of the Press Release dated March 25, 2013, wherein it was stated that decision of the 6 (Six) proposals will be communicated separately, the Central Government has approved two (2)Proposals of Foreign Direct Investment (FDI) amounting to Rs. 89.33 crore approximately.

In addition, one proposal viz., M/s Yes Bank Limited, Mumbai amounting to Rs. 2650.00 crore, has been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA).

Following two (2) proposals have been approved.

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRIinflows

(Rs. in crore)

PHARMACEUTICALS

M/s Sunij PharmaPvt. Ltd., Ahmedabd

Induction of additional foreign equity in a pharmaceutical company.

0.46

ECONOMIC AFFAIRS (CM DIVISION)

M/s WCP Holdings III, Mauritius

Acquisition of shares of an Indian stock exchange (NSE) from an existing financial institution shareholder.

88.87

The following two (2) proposals have been deferred:

Sl. No		Name of the applicant		Particulars of the proposal
1	M/s Brampton Pvt. Ltd.		Clarification regarding limit on percentage of shareholding to be held either by Indian partner or foreign partner for forming the joint venture company.
2		M/s Scripbox.com India Pvt. Ltd., Bangalore		Indian company acting as facilitator of investments into mutual funds (other financial Services not mentioned in the FDI policy) proposes to receive foreign investment.

The following one (1) proposal has been advised that FIPB approval is not required:

Sl. No.	Name of theapplicant	Particulars of the proposal
1	M/s Indian Energy Exchange Limited, Mumbai	Post facto approval for the issue of compulsory convertible preference shares and equity shares to foreign investors. The company is engaged in the business of exchange of electricity.

The following one (1) proposal has been recommended for the consideration of CCEA, as the foreign equity inflow involved in the proposal is above Rs.1200.00 crore.

Sl. No

Name of theapplicant

Particulars of the proposal

FDI/NRI inflows

(Rs. in crore)

M/s Yes Bank Limited, Mumbai

To increase foreign equity participation through a qualified institutional placement (QIP) of Equity shares to eligible NRs and/or issue of GDRs to FIIs.

2650.00

Category : Finance | Comments : 0 | Hits : 266