23 FDI proposals cleared
Union Finance Minister, Shri P. Chidambaram has approved 23
Foreign Direct Investment proposals recommended by Foreign Investment Promotion
Board (FIPB) in its meeting held on 18th May, 2007. The approval amounts to Rs.
418.3333 crore. The proposals relate to
Ministries/Departments, namely, Agriculture & Cooperation, Commerce, Food
& Public Distribution, Heavy Industry, Information & Broadcasting, Industrial
Policy & Promotion, Power, Telecommunications and Economic Affairs.
The major investment proposals pertain to the Ministry/Departments of Commerce,
Telecommunications and Economic Affairs.
The details of the proposals cleared
are given below:
| Sl. No. | Name of the applicant | Particulars of the proposal | FDI/NRI inflows (Rs. In crore) |
COMMERCE
| 1. | M/s. Christan Dior Couture | Induction of foreign equity upto 51% in a company for the
purpose of engaging in single brand retail trading under the brand name “Dior” | 1.10 |
| 2. | M/s. AL Khaleej Sugar Co. LLC. Dubai | To set up a WOS to undertake export trading in Sugar and
reexport after refinement of imported raw sugar | 0.15 |
HEAVY INDUSTRY
| 3. | M/s. Vestas Wind Technology India Pvt. Ltd. Chennai | Conversion of operating company into operating-cum-holding
company. Company is engaged in the manufacture
of Wind Turbine Generators | No immediate inflow |
INFORMATION & BROADCASTING
| 4. | M/s. INX Media Pvt. Ltd. Mumbai | Induction of foreign equity upto 46.216% in a company engaged
in the business of uplinking entertainment channel broadcasting | 4.62 |
| 5. | M/s. TV-18 HSN Holdings Ltd, Cyprus | To set up a 100% subsidiary to be engaged to undertake the up-linking and broadcasting of
a General entertainment and infomercial television channel | 0.21 |
| 6. | M/s. Thomson Holdings B.V. Netherlands | To undertake activities of publishing/printing of books/IT
besides other activities through one additional subsidiary | No fresh inflow |
POWER
| 7. | M/s. Ind-Barath Power Infra Private Limited, Hyderabad | Induction of FDI into an
operating-cum-holding company. The
company is engaged in providing operation and maintenance services for power plants
through various downstream subsidiaries. | 8.7308 |
ECONOMIC AFFAIRS
| 8. | M/s. Inter-public Mauritius Limited, Mauritius | Induction of foreign equity upto 51% in M/s. Lintas India
Private Limited engaged in outdoor advertising, market research, direct marketing,
rural communications, PR and events. Proposal attracts Press Note 1 (2005 series) | 0.2075 |
| 9. | M/s. Bharat Earth Movers Ltd., Bangalore | Issue and allot equity shares upto 20% to NRIs, FIIs, FVCIs
registered with SEBI and other permitted persons/entities. The company is engaged in dealing in heavy
earthmoving equipment, railway rolling stock and defence equipment and aggregates. | 4.9 |
| 10. | M/s. Continuum Systems Pvt. Ltd. Gurgaon | Transfer of shares by way of share-swap. Company is engaged
in software development & business Process Outsourcing | No fresh inflow |
| 11. | M/s. Shoei Furnaces (India) Pvt. Ltd. Pune. | Induction of foreign equity upto 60% in a company engaged
in the manufacture of industrial electric furnaces and industrial non-electrical
furnaces. Proposal attracts Press Note
1 (2005 series) | 0.06 |
| 12. | M/s. Bombay Stock Exchange Limited, Bombay | Foreign investment upto 16% by four foreign investors. | 0.13 |
| 13. | M/s. Rising Sun Die Castings Pvt. Ltd. Pune | Induction of foreign equity upto 30% in a company engaged
in the manufacture of Aluminium castings required for various parts of vehicles.
Proposal attracts Press Note 1 (2005 series). | 0.015 |
COMMERCE
| 14. | M/s. SSIPL Retail Pvt. Ltd. (earlier Moja shoes Pvt. Ltd.) | Induction of additional foreign investment upto 20% and approval
of existing NRI investment in a company proposed to be engaged in Single Brand
retailing | 26.50 |
INFORMATION & BROADCASTING
| 15. | M/s. BBC Worldwide Ltd. London | Freezing of FII/NRI/FDI equity in the promoter company Midday
and corresponding reduction in foreign equity of BBC worldwide in RMW, a company
engaged in the business of FM radio,to conform to FDI sectoral cap of 20% in FM
radio | No fresh inflow |
ECONOMIC AFFAIRS
| 16. | M/s. Mettler-Taledo India Pvt. Ltd. | Conversion of operating company into operating cum holding
company to make further downstream investments. Company is engaged in the manufacture of industrial scales and
laboratory balance | 0.01 |
| 17. | M/s. UBS (India) Pvt. Ltd. | Acquisition of existing NBFC companies as operating subsidiaries
by acquiring the existing shares | 224.10 |
| 18. | M/s. Seven Hills Business Solutions Ltd. | Issue of sweat equity shares to its NRI directors. Company
is engaged in Development of Computer software | No fresh inflow |
| 19. | M/s. Core Projects and Technologies Ltd. | Issue of shares on share swap basis. Amendment of the earlier approval. Company
is engaged in providing complete solutions for Smart Cards, RFID, Asset Tracking
Systems etc. | No fresh inflow |
TELECOMMUNICATIONS
| 20. | M/s. BT Telecom India Pvt. Ltd. | Change in the status of operating company into operating
cum holding company to make downstream investments | 142.60 |
AGRICULTURE & COOPERATION
| 21. | M/s. Seed Works (I) Pvt. Ltd. | Taking up additional activities of R&D, marketing and
export of improved varieties of Field crops and related marketing activities. | No fresh inflow |
FOOD & PUBLIC DISTRIBUTION
| 22. | M/s. S.A. Sucre Export Suiker Export N.V. Belgium | Induction of foreign equity upto 100% to undertake the activities
of purchase of sugar, coffee and other food and agri-commodities from sugar mills
and vendors in India and to export of various countries outside India etc. | 5.00 |
INDUSTRIAL POLICY & PROMOTION
| 23. | M/s. Puma Stationery Pvt. Ltd. | Transfer of shares from Non-resident to Non-resident. Company
is engaged in manufacture of erasors, both natural and vinyl. Proposal attracts Press Note 1 (2005 series)
| No fresh inflow |
BSC/BY/GN-272/07
(Release ID :28335)