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Further to para 8 of the Press Release dated March 25, 2013, wherein it was stated that decision of the 6 (Six) proposals will be communicated separately, the Central Government has approved two (2)Proposals of Foreign Direct Investment (FDI) amounting to Rs. 89.33 crore approximately.
In addition, one proposal viz., M/s Yes Bank Limited, Mumbai amounting to Rs. 2650.00 crore, has been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA).
Following two (2) proposals have been approved.
Sl. No. | Name of the applicant | Particulars of the proposal | FDI/NRI inflows (Rs. in crore) |
PHARMACEUTICALS | |||
1 | M/s Sunij Pharma Pvt. Ltd., Ahmedabad | Induction of additional foreign equity in a pharmaceutical company. | 0.46 |
ECONOMIC AFFAIRS (CM DIVISION) | |||
2 | M/s WCP Holdings III, Mauritius | Acquisition of shares of an Indian stock exchange (NSE) from an existing financial institution shareholder. | 88.87 |
The following two (2) proposals have been deferred:
Sl. No | Name of the applicant | Particulars of the proposal |
1 | M/s Brampton Pvt. Ltd.
| Clarification regarding limit on percentage of shareholding to be held either by Indian partner or foreign partner for forming the joint venture company. |
2 | M/s Scripbox.com India Pvt. Ltd., Bangalore | Indian company acting as facilitator of investments into mutual funds (other financial Services not mentioned in the FDI policy) proposes to receive foreign investment. |
The following one (1) proposal has been advised that FIPB approval is not required:
Sl. No. | Name of the applicant | Particulars of the proposal |
1 | M/s Indian Energy Exchange Limited, Mumbai | Post facto approval for the issue of compulsory convertible preference shares and equity shares to foreign investors. The company is engaged in the business of exchange of electricity. |
The following one (1) proposal has been recommended for the consideration of CCEA, as the foreign equity inflow involved in the proposal is above Rs.1200.00 crore.
Sl. No | Name of the applicant | Particulars of the proposal | FDI/NRI inflows (Rs. in crore) |
1 | M/s Yes Bank Limited, Mumbai | To increase foreign equity participation through a qualified institutional placement (QIP) of Equity shares to eligible NRs and/or issue of GDRs to FIIs. | 2650.00 |
DSM/RS/ka
(Release ID :95246)
Foreign direct investment approvals: government cleared two proposals and referred a major bank proposal to higher economic authority. Foreign direct investment approvals: the Central Government approved two FDI proposals totaling Rs. 89.33 crore-additional foreign equity in a pharmaceutical company (M/s Sunij Pharma Pvt. Ltd., 0.46 crore) and acquisition of shares of an Indian stock exchange by a Mauritius investor (M/s WCP Holdings III, 88.87 crore). One large proposal (M/s Yes Bank Limited) was recommended to the Cabinet Committee on Economic Affairs for consideration; two proposals were deferred for clarification; one was advised as not requiring FIPB approval.
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