"...It appears that the government has, based on the recommendations of the Foreign Investment Promotion Board, approved the proposed investment by FIL Capital Investments (Mauritius) II Ltd in Cipla Health Ltd, subsidiary of the company," Cipla said in a BSE filing.
The investment is still subject to other conditions precedent and the transfer of company's consumer healthcare business to Cipla Health Ltd, it added.
The government yesterday approved 10 foreign investment proposals involving an inflow of Rs 607 crore, including Cipla's proposal of Rs 145.22 crore.
Cipla shares today closed 2.99 per cent down at Rs 524.05 apiece on BSE.
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