The Modi-led Government has approved 12 proposals of foreign direct investment (FDI) amounting to Rs 1827.24 crore.
In addition, one proposal relating to HDFC Bank Limited has been recommended for consideration of Cabinet Committee onEconomic Affairs (CCEA).
This is because the HDFC Bank proposal involved investment over Rs 1,200 crore.
HDFC Bank has sought approval to issue equity shares aggregating to Rs 10,000 crore to NRIs/FPIs/FIIs subject to the aggregate foreign shareholding not exceeding 74 percent of the post issue paid-up capital.
The FDI proposals approved by the Government include Ratnakar Bank Limited (involving foreign investment of Rs 1150 crore), Tevapharm India Pvt Ltd (Rs 422 crore) and Fresenius Kabi India (Rs 198.80 crore).
Also, three proposals were approved under the automatic route. They related to Aequs Private Limited (FDI involving Rs 40 crore), Haylard Health Inc, USA (upto Rs 25 crore) and Euronet Services Pvt Ltd (Nil),