India is one of the largest military equipment importers in the world, at over $8 billion a year.
Fundraising via the initial public offering (IPO) route by companies may touch Rs 1 trillion in financial year 2024-25 (FY25), according to a recent note by Pantomath Group - a mid-market investment bank. During the financial year 2023-24 (FY24), 76 companies tapped the markets through mainboard IPOs, Pantomath said, raising nearly Rs 62,862 crore. This is a 21 per cent rise compared to FY23, the note added.
Tesco proposal entailing investment of $110 million has been cleared, sources said after the FIPB meeting held in New Delhi.
The company, according to industry sources, is hoping to get an FIPB approval before that. Market sources said the sales team has sounded out October 8 as the launch date. Government had earlier asked Bharti group to seek a separate FIPB approval within three months for its upcoming DTH services.
Government is believed to have given the go ahead to cola giant Pepsico to acquire one of its franchisees by bringing overseas funds while making it mandatory on the soft-drink conglomerate to divest 49 per cent equity in the same within five years.
Reason for rejection hasn't been stated; deal among seven rejected transactions.
The Reserve Bank on Thursday eased foreign direct investment (FDI) norms and allowed banks to provide guarantees on behalf of NRIs to acquire shares and debentures in Indian companies.
Inter-ministerial body Telecom Commission on Tuesday approved hiking foreign direct investment limit in the sector from 74 per cent to 100 per cent.
All FIPB records will now be digitised; old and unnecessary files will be weeded out
To boost Make in India in defence production, Finance Minister Nirmala Sitharaman on Saturday said foreign direct investment limit in defence manufacturing will be hiked to 74 per cent from 49 per cent while some weapons and platforms will be banned for imports.
Shares of Ranbaxy Lab and Sun Pharma on Tuesday gained as much as 4 per cent after the drug-makers got CCI's approval for their long-pending $4-billion merger.
Global public relations Burson Marsteller on Monday acquired Genesis Public Relations one of India's leading PR firms for an undisclosed sum.
The Foreign Investment Promotion Board has forwarded complaints against duty-free operator Alpha Airports group to the home ministry and the Directorate General of Export Promotion.
Special Judge O P Saini took strong objection to the agencies seeking repeated adjournments.
The regulator last week reached out to custodians for beneficial ownership information of investors coming from China, Hong Kong, and 11 other countries.
The government has merged the Department of Public Enterprises (DPE) with the finance ministry to give it a better control over state-owned firms and facilitate its ambitious privatisation programme. Finance ministry will now have six departments while DPE's hereto parent ministry, the ministry of heavy industries and public enterprises will now be called the ministry of heavy industries. Previously, the disinvestment ministry - created under the Atal Bihari Vajpayee government - was merged with the finance ministry and is now a department under it. Also, Foreign Investment Promotion Board (FIPB) was abolished and administration of foreign investments was given to the finance ministry (FinMin).
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As per the FIPB agenda, the proposal will be taken up on October 18.
Three suspected associates of Karti --Bhaskar Raman, Ravi Vishwanathan and Mohanan Rakesh -- are also being questioned
The agency recorded his statement under the Prevention of Money Laundering Act with some specific queries on the circumstances and procedures adopted by the now-defunct Foreign Investment Promotion Board while giving approval to the Aircel-Maxis deal during his tenure.
Right from the early days of liberalisation, there have been political controversies surrounding several cases that landed on the FIPB table and which, in turn, have often led to court battles.
Bharti Enterprises on Tuesday said it expected to start its life insurance venture with French major Axa by June end.
Currently, 100 per cent FDI is permitted in brownfield pharma firms through clearance from the Foreign Investment Promotion Board.
Speaking at the 2013 CAPA Australia Pacific Aviation Summit held in Sydney, Abu Dhabi-based Etihad Airline's President and CEO James Hogan said, "We are delighted to welcome Air Serbia to our equity alliance, and look forward to receiving final approvals from regulators in India of our investment in Jet Airways," he added.
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
The long-pending Jet-Etihad deal envisaging foreign investment of Rs 2,058 crore will come up before Foreign Investment Promotion Board (FIPB) for approval on July 29.
Of the total investments made last month, P-note holdings in equities were at Rs 72,321 crore and the remaining in debt and derivatives markets.
Coca-Cola's proposal for giving Indian shareholders differential voting rights is believed to have come up for discussion at Foreign Investment Promotion Board's meeting held on March 13, sources said in New Delhi on Friday.
As many as 15 companies, including Adani Copper Tubes, LG Electronics and Wipro Enterprises, with committed investment of Rs 1,368 crore, have been selected as beneficiaries under the PLI scheme for the white goods sector, the government said on Tuesday. In March, the commerce and industry ministry had reopened the application window for its Rs 6,238-crore PLI scheme for white goods -- air-conditioners (ACs) and LED lights-- with an aim to accommodate more players as several firms had expressed interest in the initiative. Last year, as many as 46 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 5,264 crore were selected in the first round the scheme.
Making a strong case for approval of their proposed airline JV, Tatas and Singapore Airlines have said that the venture would create significant job opportunities in India and would boost the country's image as an international investment destination.
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Retail giant Tesco's entry into Indian market has hit a regulatory roadblock.
