The government on Thursday approved five foreign investment proposals including Rs 5,000-crore fresh equity infusion by Cadila Healthcare.
“Based on the recommendations of FIPB in its meeting held on December 21, the government has approved five proposals of FDI amounting to Rs 6,050.10 crore,” an official statement said here.
Some other proposals that got nod were: Recipharm Participation BV, for incorporating a wholly-owned subsidiary in India, pharma firm’s proposal worth Rs 1,050 crore, Buimerc Core Investments’ proposal for transferring of 100 per cent equity shares of NRI investors, and Resident Investors to Buimerc Corporation FZE.
As many as six proposals were deferred, which include Raheja QBE General Insurance Company for transfer of 23 per cent equity held by Prism Cement to QBE Asia Pacific Holdings, Hong Kong. The proposal of Holcim (India) for acquisition of 24 per cent shares by Ambuja Cements in its holding company Holcim (India) and HSBC Securities and Capital Markets (India), Equitas Holdings and mining firm Gulf Quarry General Trading.