Government approves five FDI proposals amounting to Rs 6050.10 crore

Cadila Healthcare gets approval for Rs 5000 crore of FDI proposal

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 229th meeting held on 21 December 2015, the Government has approved five (05) proposals of Foreign Direct Investment (FDI) amounting to Rs 6050.10 crore.

Among the major proposals cleared, government has approved the FDI proposal of Cadila Healthcare amount to Rs 5000 crore. The approval has been granted for fresh equity infusion of up to Rs 5000 crore under FDI Route by QIBs through Qualified Institutional Placement under Chapter VIII (QIP) of SEBI ICDR Regulations on a Private Placement basis for the expansion of the business.

The government has also approved the FDI proposal of Recipharm Participation B.V allowing to incorporate a WoS in India, which will be engaged in the business of investing in other companies.

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