Govt approves 14 FDI proposals worth Rs 825.75 cr

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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