Govt cleared 3 FDI proposals worth Rs3,250 crore in April
The FDI proposals included that of Hindustan Infralog Pvt Ltd which sought approval for foreign investment from DP World Global Investment BV, Netherlands amounting to 65% of paid-up share capital
New Delhi: The finance ministry on Friday said it cleared three foreign direct investment (FDI) proposals worth Rs3,250 crore in April.
The proposals included that of Hindustan Infralog Pvt Ltd which sought approval for foreign investment from DP World Global Investment BV, Netherlands amounting to 65% of paid-up share capital. The proposal of Hindustan Infralog Pvt Ltd will bring FDI up to Rs3,250 crore, a finance ministry statement said.
The other two proposals CVC Asia Pacific (Singapore) Pte and Alcon Laboratories (India) Pvt Ltd cleared by the finance ministry will not result in flow of FDI. Besides, it rejected the proposal of Kora Research Advisors India LLP.
The finance ministry has sought further information in case of proposals of Northvale Capital Partners Private Limited which intends to acquire up to 100% of the share capital of a non-operational investment holding company Vadodara Stock Exchange Limited, a derecognised stock exchange.
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