Govt approves 16 foreign investment proposals amounting Rs 6,750.86 Cr

News:

• Based on the recommendations of Foreign Investment Promotion Board (FIPB), government has approved 16 proposals of Foreign Direct Investment (FDI) amounting to Rs 6,750.86 crore.
• The government has approved Torrent Pharmaceuticals’ proposal for increasing FII investment from 13.09 per cent to 35 per cent. While, Syngene International has been allowed to raise foreign investment to 44 per cent from 10 per cent by initial public offering of equity shares to FIIs, FPIs and NRIs.
• Among others, FDI proposals of Stericat Gut Strings Pvt Ltd, Ordain Health Care Global, Mumbai-based TRIF Kochi Projects, TRIF Real Estate and Development Ltd, Berggruen Real Estates and Today Magazines Lifestyle, were also approved.

Source: ET