Electronics major has tied up with Reliance Comm and Tata Tele.
The government on Monday cleared 18 foreign direct investment proposals involving Rs 118.93 crore including Standard Chartered Private Equity's plan to pick up 14.35 per cent stake in NDTV for Rs 52.88 crore.
Independent Mobile Infrastructure Mauritius Ltd, a telecom infrastructure provider, has sought the Foreign Investment Promotion Board's approval for investing up to Rs 3,000 crore ($674 million) in India.
$5 mn FDI must come in six months: Govt to construction firms.
Chinese foreign policy will acquire a more ideological and less pragmatic character. It will be conducted with more nationalist overtones, predicts former foreign secretary Shyam Saran.
Official sources said the proposal of Essar, which was seeking to increase its equity held through foreign subsidiaries by 6.26 per cent to 22.04 per cent has been approved.
Companies, which missed out on listing earlier, are giving it another shot but with significantly-reduced issue sizes. In the recent past, companies such as TVS Supply Chain Solutions, Suraj Estate Developers, and ESAF Small Finance Bank have re-filed their draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (Sebi). This came after they slashed their issue sizes by 20-60 per cent.
The government has permitted Teva Pharmaceuticals of Israel and its Dutch subsidiary to together invest $8 million to acquire Regent Drugs from J&K Drugs and Pharmaceuticals.\n\n\n\n
FIPB likely to allow cafs and restaurants in its review of conditional approval on December 31.
Indian IT major Infosys Technologies' proposal to increase its American Depository Shares from 3.5 per cent to between 6.27 and 7.78 per cent was amongst 50 foreign direct investment proposals
The Foreign Investment Promotion Board (FIPB) has cleared global hospitality major Hyatt group's proposal to set up 'Hyatt Place' hotels in the country in a joint venture with realty firm Emaar MGF, with an investment of about Rs 125-150 crore (Rs 1.25-1.5 billion).
Swedish bus and truck maker Volvo said on Thursday that it would synergise operations in India by bringing a number of units like exports, IT and component outsourcing, construction equipment, and diesel manufacturing under one entity.
Chidambaram clears holding company for insurance & mutual fund subject to RBI clearance.
Swedish firm Astra Pharmaceutical will buy out the remaining less than 10 per cent stake in its local arm Astrazeneca Pharma India by next year following approval from the Foreign Investment Promotion Board.
The proposals, approved by Finance Minister P Chidambaram on the recommendations of Foreign Investment Promotion Board, also included the application of Images Multimedia, which would bring in Rs 33.37 crore (Rs 333.7 million) in the country, according to an official release. NYSE Euronext would infuse Rs 281 crore (Rs 2.81 billion) in India for acquiring 5 per cent equity in Multi-Commodity Exchange. This amount includes premium as well.
The Singapore subsidiary of the UK-based GlaxoSmithKline plans to buy 24.33 per cent stake or 2.06 crore equity shares in GlaxoSmithKline Pharmaceuticals Ltd through an open offer.
UK-based Vodafone is not the only one awaiting the Indian government's call on its purchase of stake in Hutch-Essar, US coffee retail giant Starbucks is also anxiously looking for a decision on the issue.
Tatas and Singapore Airlines have assured the government that control of their proposed airline venture would always remain in Indian hands, while seeking approval to offer passenger services on both domestic and international routes.
Retail giant Tesco will make foray into Indian retail market as it has signed an agreement with Tata Group-led Trent.
Indraprastha Gas on Tuesday said it has obtained the approval of FIPB for transfer of equity shares to non-resident Indians, foreign institutional investors and foreign venture capital funds in its proposed initial public offer.
FIPB had taken up these three proposals in its meeting in August, but the decision on them was kept in abeyance.
Prem Mehta, CMD, Lintas India said both parties had reached a mutual agreement and the case was now awaiting the approval of the Foreign Investment Promotion Board.
The agreement between the two has a long stop date clause, stipulating that all approvals be secured by then.
Advertising firm Grey India Inc will hold 1,88,260 equity shares of Grey Worldwide (India) as a non-resident shareholder on repatriation basis and has ceased to be an overseas corporate body following an approval from the FIPB.
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Amidst debate over control of Jet Airways post UAE's Etihad buying stake, the RBI on Thursday notified FDI guidelines defining control of a company, saying that a firm will be said to be controlled by non-residents if they have powers to appoint majority of the directors.
Bloomberg Data Service India's proposal to service media clients in India is believed to have been rejected by the Foreign Investment Promotion Board.
The case is related to the alleged irregularities in granting clearance by the Foreign Investment Promotion Board to INX Media, once owned by Peter and Indrani Mukherjea, for receiving overseas funds to the tune of Rs 305 crore.
Japanese car major Toyota Motor Corporation plans to set up an engine assembly plant in the country and has sought government approval for the proposed venture.
Chidambaram has not been named as an accused in the FIR and the CBI is yet to file a chargesheet in the matter.
Special Judge O P Saini issued notice to the agency and sought its response by October 8.
L&T had also sought shareholders' approval to raise $600 million through a qualified institutional placement.
100 per cent FDI is now allowed in almost every major TV distribution form (direct-to-home, cable, headend-in-the-sky, multi-system operators) and 49 per cent in TV news.
The Foreign Investment Promotion Board (FIPB) on Monday deferred a decision on Vodafone's Rs 10,141 crore (Rs 101.41 billion) proposal to buy out minority shareholders in its Indian arm as the Ministry of Home Affairs is yet to give its comments.
Bharti will move FIPB soon for increasing Axa's stake to 49%
