FIPB Ok for 4 FDI Proposals Amounting to Rs.
280 crs
Further to Para 5 of the Press Release
dated January 11, 2013 regarding Foreign Direct Investment (FDI) proposals
approved by FIPB, wherein it was stated that decision in case of the Five (5)
proposals will be communicated separately, the Central Government has now
approved the following Four (4) proposals out of them amounting to Rs. 280.00 crore approximately.
Following 4
(Fourt) proposals have been approved.
|
Sl. No. |
Name of the applicant |
Particulars of the proposal |
FDI/NRI inflows |
Economic Affairs
|
1 |
M/s IvyCap
Ventures Trust |
To allow NRI investment
through normal banking channels in compliance with FEMA Regulations and
extant FDI Policy. |
200.00 |
Electronics & Information
Technology
|
2 |
M/s Wipro Limited,
Bangalore |
Transfer of shares by way of swap consequent to a
demergerof non-IT activities. The
company is engaged primarily in IT sector and also in other diversified
activities including defence. |
Nil |
Power
|
3 |
M/s Spanco
Power Distribution Ltd., Mumbai |
Post facto approval to
act as an investing company and make downstream investments in its WoS and other companies in the power distribution sector. |
80.00 |
Electronics & Information
Technology
|
4 |
M/s GPX India Private
Limited, Maharashtra |
To issue equity shares to the Foreign Collaborator against import of
capital goods/equipment/machinery to carry out the business of setting up of
domestic Other Service Provider (OS) (Data Centre) for providing various
products and services to its clients/customers. |
Nil |
2. The following 1 (One)
proposal has been deferred:
|
Sl. No |
Name of the applicant |
Particulars of the proposal |
|
1 |
M/s Yalamanchili
Software Export Ltd., Chennai |
Conversion of non-repatriable
equity held by majority shareholder torepatriable equity
and share swap of this holding to shares of a foreign company. |
[Source: PIB
(MoF) Press Release dated 28th January
2013]