Govt approves 14 FDI proposals worth Rs 825.75 cr

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New Delhi, May 29 (UNI) The government today said it has approved 14 Foreign Direct Investment (FDI) proposals totalling Rs 825.75 crore, including Mumbai-based Laqshya Media Pvt Ltd's plan to induct foreign equity of Rs 276.25 crore.

Finance Minister P Chidambaram has approved the proposals recommended by the Foreign Investment Promotion Board (FIPB).

These relate to ministries/departments such as Chemicals&Petro-chemicals, Industrial Policy&Promotion, Information&Broadcasting, Urban Development, Tourism and Economic Affairs, an official statement said.

Havells India Pvt Ltd's ex-post facto approval for issues of shares and warrants convertible into shares worth Rs 277.94 crore also got green signal from the FIPB.

The other proposals approved are Mumbai-based Wacker Chemie India Pvt Ltd, Canada-based Four Seasons Hotels Ltd, Chennai-based WIBCO-TVS (India), Hyderabad-based Nettlinx Ltd, Mumbai-based Fox Star Studios India Pvt Ltd, Mauritius-based EFX Holdings Ltd, Gurgaon-based OM PIZZA Holdings Ltd, Hyderabad-based Metra Environmental Pvt Ltd, Delhi-based Ager Hotels Group Pvt Ltd, Riverside Developers (P) Ltd and Bhrigus Software (India) Pvt.


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