Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 17.02.2015
Following 10 (ten) proposals have been approved by the Government:
Sl.
No. |
Item No. |
Name of the applicant |
|
2 |
EngineeringM/s |
3 |
M/s Luvenus Jewellery Pte Ltd |
Approval has been sought by M/s Luvenus Jewellery Pte Ltd for (i) incorporation of a WoS to set up a retail outlet at the Mumbai International Airport. (ii) Exemption/waiver from condition of 30% sourcing of goods from India. (iii) Funding the company for future expansion. |
Duty free shops |
Rs.1.25 crores |
-
|
18 |
M/s Alere Medical Private Limited, New Delhi |
Approval has been sought for amalgamation of M/s Alere Medical Private Limited and M/s SD Bio Standard Diagnostics Pvt. Ltd., two pharmaceutical companies |
Pharma |
Nil |
-
|
23 |
M/s Ipca Laboratories Limited, Mumbai |
M/s IPCA Laboratories Limited, a listed company engaged in pharmaceutical sector has sought approval for FII investment upto 35% in the company |
Pharma |
Rs.900 crores approx. |
-
|
25 |
M/s Biogenomics Limited |
Approval has been sought by M/s Biogenomics Limited to increase the foreign equity from 74% to 92.28% of the existing foreign shareholders by further infusion of capital amounting to Rs.75 crores. |
Pharma |
Upto Rs.75 crores |
-
|
34 |
M/s Wacoal International Hong Kong Co. Ltd. (Hong Kong) |
M/s Wacoal International Hong Kong Co. Ltd. (Hong Kong) has sought approval to set up a JV with 51% equity participation for undertaking of single brand retail trading of products under the brand name ‘Wacoal’. Remaining 49% of the equity share will be held by an Indian JV partner |
SBRT |
USD 255,000
(Rs.1.58 crore approx.) |
The following Name of the applicant
Sector
1
M/s Quickjet Cargo Airlines Pvt Ltd, Bangalore
4
Shri Mehul Sehgal , Delhi
7
M/s ASV Europa Security Private Limited, Secunderabad
8
M/s Compatel India Private Limited, Mumbai
9
M/s Knowlarity Communications Private Limited, Delhi
10
M/s Thaicom Public Company Limited, Thailand
11
M/s Augere Wireless Broadband India Private Limited, New Delhi
12
M/s India Value Fund IV
(i) Making investment in an Indian Company i.e. M/s Atria Convergence Technologies Pvt. Ltd. (ACT) engaged in providing Internet Services (ISP). IVF IV and IVF III-A together proposes to invest in the capital of ACT in excess of 49% upto 100% by subscribing to equity/compulsorily convertible preference shares/fully convertible debentures.
13
M/s Chorus Call INC, USA
14
M/s O-zone Networks Private Limited, Delhi
15
M/s Insight Media City (India) Pvt. Ltd.
16
M/s INX Music Private Limited, Mumbai
27
M/s SERAP India Pvt Ltd, New Delhi
29
M/s Shah Vibratory LLP, Mumbai
30
M/s Thornton Tomasetti Inc., USA
31
M/s YourNest Angel Fund (Trust)
33
M/s Zodius Technology Fund, through its Investment Manager M/s Avezo Advisors Pvt. Ltd
36
Sharekhan Limited & M/s Human Value developers Pvt Ltd
(Baring Private Equity Asia IV Mauritius Holdings Limited)
The following 02 (two) proposals were not considered by FIPB:
1. 21
M/s NovaLead Pharma Private Limited, Pune has sought permission for (a) the sale of a part of an existing shareholder M/s Kotak India Growth Fund share in the company to (another existing shareholder) M/s Boxmoor (Mauritius) Ltd., and (b) to allot additional equity shares to Boxmoor.
2. 28
SNC-Lavalin Mauritius Limited is seeking approval for conversion of CCPS into equity shares held in M/s Piramal Roads Infra Private Limited, an Indian investing cum operating company and to increase its shareholding from 10% to 17%.
The following 4 (four) proposals have been rejected:
- M/s Continental Traffic Service Global Technologies Private Limited, Chennai, has sought post-facto approval for capitalization of pre incorporation expenses and to allot shares to the non-resident investor/entity M/s Continental Traffic Service INC.,USA.
Software (pre incorporation expenses)
- M/s Beloor Bayir Biotech Limited Bangalore, with 22.55% foreign investment (on a fully diluted basis) by M/s India Agri Business Fund Ltd. Mauritius proposes to acquire, by way of merger, the entire share capital of M/s Bayir Chemicals India Private Limited, Bangalore and M/s Sneha Nutura India Private Limited, both companies being engaged in pharmaceuticals sector.
Pharma
- M/s CLSA India Private Limited, engaged in fund based NBFC activities, is seeking approval for capitalisation of the free reserves to meet the minimum capitalization norm.
NBFC
- M/s Continental Hospitals Ltd. (“CHL”) has sought post-facto approval for allotment of shares to NRI promoters (Dr. Gurunath Reddy and Mrs. Vasu Reddy) and M/s Paradigm Corporation Private Ltd. (“PCPL”) for cash and/or for consideration other than cash.
Pre-incorporation expenses and others
The following 01 (one) proposal was withdrawn by the applicant:
Sl.
Gist of the proposal
Sector
- M/s Agappe Diagnostics Limited (ADL) seeking approval for acquisition of 20.24 percent of its fully paid-up equity shares of ADL by M/s Sycamore Holdings Limited, Mauritius.
Pharma
Sl.
No. |
Item No. |
Name of the applicant |
Gist of the proposal |
Sector |
Proposed FDI |
- Approval has been sought by M/s Ambuja Cements Ltd., for the acquisition of 24% shares in its holding company; Holcim (India) Pvt Ltd from the latter’s holding company M/s Holderind Investments Ltd (NR) and subsequent reverse merger through a share swap.
|
Investing company |
Rs.3500 crore approx. |
|