The Hindu Business Line : NYSE Euronext plan among 15 FDI proposals cleared

New Delhi, May 2 NYSE Euronext’s plans to pick up 5 per cent stake in Multi-Commodity Exchange (MCX), at an estimated investment of Rs 218.51 crore, was among the 15 FDI proposals cleared by the Government on Friday.

The proposals — approved by Finance Minister, Mr P. Chidambaram, on the recommendations of Foreign Investment Promotion Board (FIPB) — totalled Rs 308.57 crore.

Images Multimedia received approval for bringing in Rs 33.37 crore FDI for inducting 26 per cent equity in the publication of speciality magazines, according to an official release.

Other proposals

Besides this, the board cleared the proposal of Japan-based Metal One Corporation, which is estimated to invest about Rs 32 crore for setting up a new wholly owned subsidiary.

The proposal attracts Press Note 1 (2005 series).

The Japan-based Sumitomo Heavy Industry would bring in Rs 1 crore for setting up a 100 per cent subsidiary for selling electric plastic injection moulding machines.

Ashwini Steel would bring in Rs 1.68 crore for setting up small scale industrial unit with a foreign equity of 84 per cent.

The release said that Mumbai-based Birladp carpets, Greater Noida-based ST Microelectronics,

Encompass Events, Shell Bitumen India, Shell Gas India and Shell India Marketing have also received approvals but these would not attract fresh inflow.

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NYSE Euronext to buy 5% in MCX

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