Govt approves 23 FDI proposals worth over Rs2,300 crore

Govt approves 23 FDI proposals worth over Rs2,300 crore
PTI
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First Published: Mon, Mar 29 2010. 05 30 PM IST
Updated: Mon, Mar 29 2010. 05 30 PM IST
New Delhi: The government on Monday approved 23 foreign direct investment (FDI) proposals worth over Rs2,325.21 crore, including that of broadband services provider Tikona Digital Network and auto components maker Bharat Forge.
“The Union government has approved 23 FDI proposals amounting to approximately Rs2,325.21 crore,” an official statement said.
The highest FDI of Rs1,142.21 crore is likely to come into Tikona Digital Network from convertible debenture and share sale, followed Kalyani group company Bharat Forge’s proposal to raise Rs576 crore by issuing warrants to overseas investors and medical device maker Opto Circuits’ Rs376.27- crore proposal.
Also, the government has deferred eight proposals, including Essar Capital Holding, Verizon Communications and Etisalat DB Telecom, besides rejecting six FDI proposals.
However, Star India Holding has withdrawn its Rs324.59- crore proposal, the statement said.
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First Published: Mon, Mar 29 2010. 05 30 PM IST