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Government clears seven FDI proposals worth Rs 981 crore

News:

  • The proposals worth Rs 981.15 crore have been cleared by the Finance Ministry following recommendations for the same by the Foreign Investment Promotion Board (FIPB).
  • Hathway Cable and Data Com Ltd has got approval for increasing foreign investment limit for FIIs and FPIs, among others under the portfolio investment scheme from the current 49% of its issued and fully paid up share capital to 74%.
  • Hyderabad-based Celon Laboratories too has got permission for downstream investment in a brown field pharma company and the investment has been estimated at Rs 16 crore.
  • Cyprus-based Lalea Trading, related to real estate, has been granted permission for repatriation of investment.

Source: ET

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