The biggest FDI is for AGS Transact Technologies involving foreign investment of Rs 1,350 crore
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New Delhi: The finance ministry on Thursday approved 11 foreign direct investment (FDI) proposals worth Rs 1,567 crore. Also two proposals — Sistema Shyam Teleservices involving an FDI of Rs 10,000 crore and IIFL Holdings involving an FDI of Rs 3,201 crore — have been recommended for consideration of CCEA.
The biggest FDI is for AGS Transact Technologies involving foreign investment of Rs 1,350 crore. AGS Transact Technologies had sought approval for the issue and transfer of equity shares to eligible non-resident investors, such as FPIs, FIIs, FVCIs and NRIs, pursuant to an IPO thereby increasing the foreign shareholding from the approved foreign equity of 43.17 per cent to 49 per cent. FIPB in its meeting held on September 11, 2015 had approved these FDI proposals.
( Source : deccan chronicle )
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