Nod for 23 FDI plans

Six projects are rejected

Nod for 23 FDI plans

The highest FDI of Rs 1,142.21 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 Rs 576 crore by issuing warrants to overseas investors and medical device maker Opto Circuits’ Rs 376.27- crore proposal.

In the telecom sector the government cleared the proposal of M/s Aster Infrastructure Private Limited to bring in FDI worth Rs 65 crore through transfer of shares from resident to non-resident share holders, while the proposal of medical equipment manufacturer Opto Circuits (India) Limited to raise FDI worth Rs 376.27 crore through issue of convertible warrants was cleared.

Further, the Centre has also deferred eight proposals, including Essar Capital Holding, Verizon Communications and Etisalat DB Telecom, besides rejecting six FDI proposals, while rejecting six proposals. Star India Holding has however, withdrawn its Rs 324.59 crore proposal.

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