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    Government Approves Four (4) Proposals of Foreign Direct Investment (FDI)
    NBCC OFS gets oversubscribed 1.54 times in non-retail category and 1.50 times in retail category.
    Ministry of Corporate Affairs took another bold initiative in Government Process Re-engineering (GPR)
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    October 22, 2016
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    Foreign Direct Investment approvals, deferrals, rejections and categorisation clarified for acquisitions, reorganisations and post facto regularisations.
    The Government approved four FDI proposals recommended by FIPB: DiaVikas Capital Private Limited's buy back to enable 100% foreign shareholding; IFC FIG Investment Company I's purchase of a minority stake in Bandhan Financial Services Ltd.; IBM India Pvt Ltd's corporate reorganisations and multiple post facto approvals for subsidiaries and dormant status; and BNP Paribas' acquisition of Sharekhan Limited and related holding company in the NBFC/financial services sector.
    October 22, 2016
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    Retail reservation and cut-off price sequencing shaped the OFS sale, granting retail discount and separate T/T+1 bidding windows.
    Disinvestment proceeded by an Offer For Sale of fifteen percent of paid-up equity with twenty percent reserved for retail investors; non-retail bids were taken on T day to discover a cut-off price and retail bids on T+1 could use that cut-off or submit price bids, with retail bids below the small-investor threshold receiving a five percent discount; floor and reference market prices were published and the sale reduced the Government's shareholding to seventy-five percent.
    October 3, 2016
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    Company incorporation form SPICe streamlines electronic filings, standardises e MOA/e AOA formats and replaces older INC forms.
    Ministry of Corporate Affairs introduced the Simplified Proforma for Incorporating a Company Electronically (SPICe) e-Form to standardise and expedite company incorporation by replacing INC-29 and INC-7. SPICe requires linked e MOA and e AOA (except Section 8 companies), permits incorporation with a pre-approved name, mandates Digital Signature Certificates for subscribers and witnesses, and aims to improve back-office review speed through a fully digital filing process.

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