The government has deferred a decision on a proposal by food and beverages major Pepsico to induct additional equity worth about Rs 930 crore in its Indian subsidiary. The proposal for induction of foreign equity (by Pepsico) has been deferred, an official statement said, without specifying reasons for the deferment.
Meanwhile, based on Foreign Investment Promotion Board (FIPB) recommendations, the government today referred the Jet Airways proposal for equity investment through the Qualified Institutional Placement (QIP) route from qualified Foreign Institutional Investors (FIIs) to the Cabinet Committee on Economic Affairs (CCEA).
Besides, the government cleared 16 Foreign Direct Investment (FDI) proposals, bringing in Rs 1,158.8 crore.
FIPB, though, rejected a proposal by owners of the ‘Rajasthan Royals’ IPL team, for inducting over $5.82 million equity.
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