The Government approved five foreign investment proposals involving an inflow of Rs. 6,050 crore, including a Rs. 5,000-crore plan of Cadila Healthcare for fresh equity infusion.
Accepted Proposals:
- Cadila will infuse equity of up to Rs. 5,000 crore through issue of shares to QIBs through Qualified Institutional Placement for expansion.
- Recipharm Participation BV, Pharma firm’s proposal ,Buimerc Core Investments Pvt ,Health Media Publishing Pvt Ltd
Rejected proposals:Nigeria’s Mokeme Chiwetal Izuchukwu and Lanarth Developers Pvt Ltd.
Economic Affairs Secretary: Shaktikanta Das.
About FIPB:
The Foreign Investment Promotion Board (FIPB) is a national agency of Government of India, with the remit to consider and recommend foreign direct investment (FDI) which does not come under the automatic route. It provides a single window clearance for proposals on FDI in India.
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