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Logistics - Supply Chain Management
Sical gets FIPB nod for investment in arm

Coimbatore, Nov. 28

Sical Logistics Ltd has received the Foreign Investment Promotion Board (FIPB) approval for investment in its newly formed subsidiary Sical Infra Assets Ltd. The investment by Old Lane Mauritius IV Ltd, an investment vehicle of Old Lane India Opportunities Funds ("Old Lane"), is aimed to fund the growth of the company's infrastructure business. The foreign equity participation by Old Lane is $26 million, by issue of compulsorily convertible debentures which will be subsequently converted into equity shares of Sical Infra. - Our Bureau

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