Govt approves 10 FDI proposals of Rs.505 cr
The Dollar Business Bureau Based on the suggestions made by the Foreign Investment Promotion Board (FIPB), the Government on Friday approved 10 FDI (Foreign Direct Investment) proposals amounting to Rs.505 crore. This includes the proposal of Helix Investment Pte, a group based in Singapore. On the FIPB’s agenda, there were 18 proposals. Out of which, 10 were cleared in an inter-minister panel, chaired by Shaktikanta Das, Secretary - Economic Affairs. Out of total 18, the board rejected two proposals and deferred four, which also includes the proposal of Sharekhan.According to an official from the finance ministry, the FDI proposal worth Rs.475 crore of Helix Investment was cleared by the board. In India, FDI is allowed through automatic route in many sectors. However, for ...
Govt clears 10 FDI proposals worth Rs. 607 crore
The approved proposals included those sought by Alstom Manufacturing India Limited and pharma majors like Cipla, Glenmark, Emcure, and Celestis The Dollar Business Bureau In the pharma sector, Cipla has got the go-ahead to bring in a maximum Rs. 145.22 crore from Mauritius-based FIL Capital Investments Limited The government has cleared 10 foreign direct investment (FDI) proposals, allowing an inflow of up to Rs.607 crores mainly in pharmaceuticals and railway infrastructure sectors in the country. The approved proposals included those sought by Alstom Manufacturing India Limited and pharma majors like Cipla, Glenmark, Emcure, and Celestis. Based on the recommendations of Foreign Investment Promotion Board in its 231st meeting held on 22nd January 2016, the government has approved 10 FDI proposals involving FDI of Rs. ...
Govt clears four new FDI proposals worth Rs.385 crore
The Dollar Business Bureau The government on Monday gave its nod to four new proposals of foreign direct investment (FDI) worth Rs.384.45 crore, while rejected an equal number of requests and deffered five others. Among those got clearance, two are related to pharmaceuticals sector and one each to defence and manufacturing. The clearance came based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on October 19. “…The government of India has approved four (04) proposals of Foreign Direct Investment (FDI) amounting to Rs.384.45 crore,” a Finance Ministry statement said. Pharma major Lupin got approval for its Rs.331.64-crore proposal. The company had sought approval in respect of ESOPs (Employees Stock Ownership Plans) issued before June 11, ...
Government clears 10 FDI proposals worth Rs 1,675 crore
Source: PTI Government has cleared 10 foreign direct investment (FDI) proposals entailing capital inflows of Rs 1,675.15 crore into the country. "Based on the recommendations of Foreign Investment Promotion Board (FIPB) meeting of June 15, the government has approved 10 proposals of FDI amounting to Rs 1,675.15 crore," a Finance Ministry statement said. The inter-governmental panel, chaired by Finance Secretary, cleared the proposal of Singapore-based Nickelodeon Asia Holdings resulting in an investment of Rs 940.50 crore. Nickelodeon Asia Holdings Pte Ltd (Nick Asia) had proposed to acquire 50 per cent equity interest in Prism TV. Besides, the government also cleared Rs 620 crore FDI proposal of NTT Communications India Pvt Ltd for downstream investment in an Indian company yet to be ...
FDI in Insurance: More investments may result in FIIs controlling stakes in Indian firms
Sai Nikesh | The Dollar Business The holdings of Foreign Institutional Investors (FIIs) in Indian insurance promoters will not be part of the total Foreign Direct Investment (FDI), informed an official release on Wednesday. Informing this, the Insurance Regulatory Authority of India (IRDAI) was said to have published on Wednesday, a clarification by the Department of Financial Services on the matter. According to the clarification provided, holdings of equity in an Indian promoter company held by FIIs, other than the foreign promoters of the applicant and their subsidiaries and nominees, will not be part of the FDI and this was seen as a relief to several Indian entities that have a high FII holding. Speaking to The Dollar Business, Jose Verghese, Advisor, ...
GoI approves sixteen FDI Proposals worth Rs 6750.86 Crore
Source: PIB, Government of India. S. no. Name of the applicant Gist of the proposal Sector Proposed FDI (In Rs. crore) 1 M/s Stericat Gut Strings Pvt. Ltd. M/s Stericat Gut Strings Pvt. Ltd. seeks to sell 77.5% stake to M/s Groupe Peters Surgical LLC (22.5% of which would be via share swap). Pharma Rs. 43.52 Crore 2 M/s BASF Chemicals India Private Limited (BCIPL) Approval has been sought by M/s BASF Chemicals India Private Limited (BCIPL) to convert the legal form of the Company from a private limited to a Limited Liability Partnership (“LLP”) under the Limited Liability Partnership Act, 2008. Industry Nil 3 M/s Torrent Pharmaceuticals Limited Approval has been sought by M/s Torrent Pharmaceuticals Limited, a brownfield pharma company for increasing the FII investment from 13.09% to 35%. Pharma Rs. 3000 Crore 4 M/s Syngene International Limited, Bangalore Approval has ...
How the IndiGo IPO leads us to the question of right foreign investments in the aviation industry
Steven Philip Warner | The Dollar Business For those hopefully expecting an Indigo Airlines IPO in the last few days of this month, here’s an insider leak – the IPO won’t be out until late-July. Last fourteen days of July 2015 is when the window has been decided. The IndiGo management for now isn’t sure of the date either. Whatever the uncertainties over India’s largest carrier going public, one thing’s for sure – the market definitely expects IndiGo to get this one right too! We’re not just talking of the euphoria over a ‘healthy airline’ (much of an oxymoron these days in India) being listed. Speculations are rife about what IndiGo will do to get engaged with foreign investors – be ...
Government of India keen on easing norms for business start-ups
The Dollar Business Bureau The Government of India seems to be very keen towards easing the norms and regulations for the business start-ups in the country. Towards this move aimed at increasing ease of doing business environment, the government intends to reduce the list of prior approvals for easing the norms for upcoming businesses. Moving ahead, the Ministry of Commerce & Industry, according to a latest release, has invited the stakeholders’ comments over the draft legislation for replacing the system involving multiple prior permissions with a pre-existing regulatory mechanism. The Department of Industrial Policy and Promotion (DIPP), Government of India, with the approval of competent authority, has constituted an Expert Committee in March 2015. The Committee, set up by the DIPP, ...
