Grasim Industries to raise foreign investment limit to 30%
The Dollar Business Bureau Grasim Industries Ltd, an arm of Aditya-Birla group, has decided to increase the foreign investment limit from the currently approved 24 percent to 30 percent, according to a statement issued by the company. The decision, taken by the shareholders, will put into effect an stated increase in the investment limit for Registered Foreign Portfolio Investors (RFPIs)/Foreign Institutional Investors (FIIs) of the company’s equity share capital. The rise will come into effect after due approval from the Reserve Bank of India (RBI). The change has been brought about to further aid investments by the RFPIs/FIIs into the company’s equity shares. This headroom for increase will be augmented following the merger of Aditya Birla Nuvo Ltd (ABNL) with Grasim Industries, considering the level of ...
Railways to form joint ventures with states for infra funds
While each JV would have an initial paid up capital of Rs.100 crore based on the quantum of projects to be undertaken, the Ministry of Railways initial paid-up capital is limited to Rs.50 crore per state The Dollar Business Bureau The joint venture companies would be formed with equity participation of Ministry of Railways and concerned state governments The Union Cabinet gave its approval for the Ministry of Railways to form joint venture companies with state governments to mobilize resources for undertaking various rail infrastructure projects across the country. The joint venture companies, to be formed with equity participation of the Ministry of Railways and concerned state governments, are expected to ensure greater participation of states in implementation of railway projects, both in ...
