The government on Tuesday cleared 13 FDI proposals that will bring in Rs 657.01 crore, including Rs 199 crore by US-based financial services provider Goldman Sachs. However, the proposal of Kishore Biyani-promoted Future Ventures India Ltd for induction of foreign equity up to 49 per cent by FIIs, NRIs, FVCIs, multilateral and bilateral development financial institutions and other eligible non residents was rejected by the government. The proposal of Goldman Sachs, a non-banking financial company, is for subscribing to preferential equity shares or compulsorily convertible preference shares. Among the approved proposals, Bangalore-based logistics and courier service provider VRL Logistics Ltd plan to sell equity to foreign partner for a consideration of Rs 225 crore through public offer.
Nod to 13 FDI proposals
The government cleared 13 FDI proposals that will bring in Rs 657.01 crore, including Rs 199 crore by US-based financial services provider Goldman Sachs.
This article was first uploaded on April twenty-three, twenty eight, at eighteen minutes past eleven in the night.