Indian Economy News

Govt clears six FDI proposals

New Delhi: The Finance Ministry has cleared six Foreign Direct Investment (FDI) proposals with estimated investments of Rs. 551 crore.

They include Mauritius-based Destimoney Enterprises Ltd’s Rs. 489.99-crore proposal for subscribing to 3,76,92,300 partly paid equity shares of PNB Housing Finance Ltd.

The proposals were cleared by the Foreign Investment Promotion Board (FIPB) in its meeting last month, following which the Finance Ministry has given the go-ahead.

Amri India Private Ltd’s proposal for fresh investment of $10 million from its parent company Albany Molecular Research, and Mauritius and Brunswick India Ltd’s application for making 99.99 per cent investment in a Limited Liability Partnership in India have also been approved.

A number of proposals have been deferred including ones submitted by Walt Disney, News Laundry, BNP Paribas and Indian Rotorcraft. FIPB’s meeting on Friday will take up 31 FDI proposals which include that of Johnson & Johnson and Monsanto Holdings.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

Partners
Loading...