FIPB clears FDI plans worth Rs 1,257 crore
The Foreign Investment Promotion Board (FIPB) has cleared 14 FDI proposals involving FDI worth Rs 1,257 crore, including those of Mauritius-based Essar Telecom Holdings and US-based Goldman Sachs Asset Management (GSAM).
By TNN |
NEW DELHI: The Foreign Investment Promotion Board (FIPB) has cleared 14 FDI proposals involving FDI worth Rs 1,257 crore, including those of Mauritius-based Essar Telecom Holdings and US-based Goldman Sachs Asset Management (GSAM).
The two companies had asked for permission to induct foreign equity worth Rs 500 crore and Rs 200 crore, respectively. Other proposals cleared by the FIPB include a Rs 480-crore project by Greenko Mauritius to convert its Balaji Biomass Power into an operating-cum-holding firm for making downstream investments in power projects.
The FIPB also cleared a proposal of Intas Biopharmaceuticals' to induct foreign equity in the company.
The FIPB recommended six proposals for deferment including on of US-based Millennium India Acquisition Company. The US firm had asked for permission to induct equity into two non-banking finance companies with operations in stock broking and mutual fund distribution.
The two companies had asked for permission to induct foreign equity worth Rs 500 crore and Rs 200 crore, respectively. Other proposals cleared by the FIPB include a Rs 480-crore project by Greenko Mauritius to convert its Balaji Biomass Power into an operating-cum-holding firm for making downstream investments in power projects.
The FIPB also cleared a proposal of Intas Biopharmaceuticals' to induct foreign equity in the company.
The FIPB recommended six proposals for deferment including on of US-based Millennium India Acquisition Company. The US firm had asked for permission to induct equity into two non-banking finance companies with operations in stock broking and mutual fund distribution.
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