L&T Finance Holdings among 7 FDI proposals cleared

Our Bureau New Delhi | Updated on January 22, 2018 Published on December 11, 2015

The Centre has approved seven proposals for Foreign Direct Investment (FDI) amounting to ₹5,240.35 crore.

Approval for the largest amount of FDI was given to India Advantage Fund S4 I, a SEBI registered Alternate Investment Fund, which sought permission to accept contributions up to ₹2,950 crore from offshore investors.

Others which got the nod include Paragon Partners Growth Fund for ₹985 crore, L&T Finance Holdings Ltd for ₹707 crore, Extramarks Education India Private Ltd for ₹403.15 crore, Strugence Debt Fund for ₹99 crore, Agio Image Ltd for ₹77 crore and Menterra Venture Advisors Private Ltd for ₹21.2 crore.

The approvals have been given based on the decisions taken by the Foreign Investment Promotion Board (FIPB) on November 9.

Four deferred

The four proposals that got deferred were from Sharekhan Ltd, PC Ghadiali and Co LLP, SunE Solar BV and Software is Correct, Inc.

The Centre also rejected five proposals for FDI which include ones from Limpkin Telecom, Euronet Services India, Rocktec Sands LLP, Images Franchising Management and Marvel Data Services LLP.

Published on December 11, 2015
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