India okays $ 475 m FDI deals |
The Indian government`s Foreign Investment Promotion Board has cleared ten FDI proposals worth Rs 2,858 crores or nearly US$ 475 million. FIPB deferred 18 proposals including that of Sharekhan Ltd for transfer of compulsory convertible debentures (CCDs) and compulsory convertible preference shares (CCPs), held by IDFC Ltd, to Baring Private Equity. FDI proposals under approval route fall under the purview of the FIPB. Projects worth more than Rs 1,200 crore are given final clearance by the CCEA.
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