During the period 1st July 2017 to 31st August 2017, the Department of Economic Affairs (DEA), Ministry of Finance has disposed of six (6) FDI proposals aggregating to Foreign Investment of ₹ 503.40 crore, as per details below.
1. The following four (04) proposals have been approved:
S. No | Name of the applicant | Gist of the proposal | FDI (Rs. crore) |
1 | AMP Solar India Pvt Ltd | Investment in Indian investing company which in turns invest in Indian operating companies. | 500.00 |
2 | Aditya Birla Capital Ltd | Issue and allotment of equity shares of M/s Aditya Birla Capital Ltd, a systemically important CIC-ND-SI registered with the RBI, to foreign equity shareholders and GDR holders in M/s Grasim Industries Limited pursuant to a composite scheme of arrangement. | Nil |
3 | Firstspace Development Management Pvt Ltd | Undertaking the activity of rendering Investment Advisory Services to an overseas fund manager | 0.085 |
4 | CVC Asia | Setting-up an investment advisory entity exempt from registration with SEBI | 3.32 |
The following one (01) proposal has been withdrawn:
S. No | Name of the applicant | Gist of the proposal |
1 | Indus Way Emerging Markets | To accept contributions from offshore investors, accept minimum capital requirement, permit the fund to distribute the income realized on its investments to offshore investors under the automatic route. |
The following one (01) proposal does not lie before DEA:
S. No. | Name of the applicant | Gist of the proposal |
1 | Uniquest Infra Ventures Pvt Ltd | Amendment in clauses 1, 2, 4, 5 and 6 of approval letter dated 25.3.17 |
Foreign direct investment approvals processed, including multiple approvals, one withdrawal and one proposal outside departmental jurisdiction. DEA disposed of six FDI proposals aggregating 503.40 crore: four approvals (AMP Solar India Pvt Ltd via Indian investing company; equity allotment in Aditya Birla Capital Ltd under a composite scheme with no fresh FDI; Firstspace Development Management Pvt Ltd for investment advisory services to an overseas fund manager; CVC Asia to set up an advisory entity exempt from SEBI registration), one withdrawal (Indus Way Emerging Markets seeking automatic-route acceptance of offshore contributions and distribution to offshore investors), and one proposal not lying before DEA (Uniquest Infra Ventures seeking amendment to prior approval).
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