With Prime Minister Narendra Modi’s Make in India endeavour gaining limelight, Investors have started pouring their money into Indian Business Sector. The Central Government recently approved 19 proposals of Foreign Direct Investment(FDI) amounting to Rs. 2165.04 crore based on the recommendations of Foreign Investment Promotion Board (FIPB), in a Meeting held on 9th April 2015. Below are the details of the proposals.
1.M/s Mylan Laboratories Limited, Hyderabad
M/s Mylan Laboratories Limited, Hyderabad seeks prior approval for increase in the level of FDI in the company by existing non-resident shareholders, MP Laboratories (Mauritius) Ltd. and Mylan Luxembourg 2 s.a.r.l., pursuant to a composite scheme of arrangement.
Amount: Rs. 128.77 crore
2. M/s Par Formulations Private Ltd. (PFPL)
The applicant has informed that for payment of the consideration stated in the Slump Sale Agreement, the Shareholders of PFPL would, singly or collectively, subscribe to additional fully paid up equity share capital of PFPL (by bringing in fresh foreign inward remittance), and PFPL will in turn use such fund for subscription/acquisition of 100% of the entire issued, subscribed and paid up equity share capital of NewCo. Ultimately, NewCo shall use such funds for the purpose of acquiring the Alathur Undertaking from Nuray.
Amount: Rs. 124.00 crore
3.M/s BioMerieux India Private Limited, New Delhi
i) M/s BioMerieux India Pvt Ltd., a WoS of M/s BioMerieux France has sought post facto approval for acquisition of 60% shareholding in M/s RAS Lifesciences Private Limited in July 2012.
ii) Intimation given by the company regarding downstream Investment made in M/s RAS Lifesciences Private Limited
4. Ms. Maham Nayyer and Ms. Sahar Nayyer, Pakistan
Ms. Maham Nayyer and Ms. Sahar Nayyer, Pakistani citizen, has sought FIPB approval to import finished carpets from Dubai and other countries and trade it in India
Amount: Rs. 0.60crore
5. M/s Partu Movies LLP, Mumbai
Approval has been sought by M/s Partu Movies LLP for a foreign investment of 99.997% to produce a Marathi feature film, namely “Partuâ€.
Amount: Rs. 3.10 crore
6. M/s Fincare Business Services Private Limited, Bangalore
Approval is sought for permission for foreign investment by way of acquisition of shares in core investment company (CIC-NBFC) by swap of shares, and further investment up to 100% by way of primary/ secondary acquisition in M/s Fincare Business Services Private Limited, Bangalore.
7. M/s Asomi Finance Private Limited, Assam
M/s Asomi Finance Private Limited, Assam, seeking approval for relaxation of the condition of not having complied with the minimum capitalization norms in the NBFC Sector.
Amount: Rs. 8.00 crore (already brought in)
8. M/s Vayugrid Marketplace Services Private Limited, Maharastra
M/s Vayugrid Marketplace Services Private Limited, Maharashtra, is seeking approval for allotment of equity shares towards preliminary expenses for the incorporation of the company and to issue pending equity shares against share application money pending since takeover of a sister company since 31.03.2009.
Amount: Rs. 0.30 crore
9. M/s Touchstone Trust, Hyderabad
M/s Touchstone Trust, Hyderabad, a registered AIF category II Fund is seeking permission to issue units in its scheme I to Individual Foreign Investors/ NRI’s.
Amount: Rs. 29.00 crores
10. M/s Mitsui & Co India Pvt Ltd, New Delhi
Post-Facto approval has been sought by M/s Mitsui & Co India Pvt Ltd, a foreign owned company for making downstream investment in another Indian company.
11. M/s FCC Clutch India Private Limited
Approval is sought by M/s FCC India to acquire additional 50% equity stake (represented by 39,50,000 equity shares) in M/s FCC Rico from M/s FCC Co Ltd, the consideration for which would be discharged by swap of shares wherein FCC India’s equity shares would be issued to FCC Japan.
Amount: Rs. 444.50 crore
12. M/s Data-mark Prodapt India BPO Pvt. Ltd.
M/s Datamark Prodapt India BPO Private Limited, Chennai seeks permission for conversion of Private Company limited by shares into a LLP.
13. M/s RLG Retail Private Limited
The applicant has sought approval to enhance the foreign equity participation of M/s Richemont Services B.V. from existing 51% to 100% in M/s RLG Retail Private Limited, for undertaking single brand retail trading of ‘Cartier’ products in India.
Amount: Rs. 31.00 crore
14. M/s Decathlon S.A France.
M/s Decathlon SA France has sought approval for change of single brand from ‘Oxylane’ to ‘Decathlon’.
15. M/s Damiani India Private Limited
The applicant has sought approval to enhance the foreign equity participation of M/s Damiani International B.V. from existing 51% to 100%, by way of purchase of 49% shares from its own internal accruals by acquiring from existing shareholders of M/s Damiani India Pvt. Ltd.
Amount: Rs. 3.34 crore
16. M/s Bharti AXA Life Insurance Company Limited
Bharti AXA Life Insurance Company Limited, A Joint venture between AXA India holdings and Bharti Insurance Holdings Private Limited has sought approval for
(i) Transfer of 26.78% from Bharti Insurance Holdings Private Limited to AXA India holdings.
(ii) Transfer of 10% held in First American Securities Private Limited from AXA India Holdings to Bharti gr9oup
Amount: Rs. 858.60 crore
17. Bharti AXA General Insurance Company Limited
Bharti AXA General Insurance Company Limited, a Joint venture between SocieteBeaujon and Bharti Insurance Holdings Private Limited has sought approval for
(i) Transfer of 26.78% from Bharti Insurance Holdings Private Limited to SocieteBeaujon
(ii) Transfer of 10% from SocieteBeaujon held in GIBA Holdings private Limited to Bharti group
Amount: Rs. 431.40 crore
18. M/s Curatio Healthcare (I) Private Limited
Approval has been sought by M/s Curatio Healthcare (I) Private Limited, a Brownfield pharma company for foreign investment of 33.33% by transfer of shares from resident shareholders to non-residents
Amount: Rs. 93.43 crore
19. M/s Augere Wireless Broadband India Private Limited
M/s Augere Wireless Broadband India Private Limited, an Indian telecom company, proposes to Increase foreign equity participation from 74% to 100%.
Amount: Rs. 9.00 crore