The government on Feb 13 approved 25 foreign direct investment proposals worth Rs 5,584.82 crore in various sectors, including a Rs 1,950-crore investment plan of Bycell Communications for starting mobile telephony in the country.The proposals approved by Finance Minister P Chidambaram also include a Rs 1,460-crore plan of J M Financial Trustee for induction of foreign equity by subscribing to private placement of units.
The Indian company is engaged in FDI compliant construction development projects, an official release said.Earlier, the Department of Telecom had withheld Letters of Intent to Bycell for launching mobile services in five circles. The investment plan of the company, which had applied for licences in Assam, Orissa, Bihar, North East and West Bengal circles in January 2006, also envisages raising of paid up capital.
Among other major proposals, Mumbai-based Dumeric Holdings Pvt Ltd''s Rs 400-crore proposal to convert status of operating company into operating cum holding company for making further downstream investments was also cleared.
Another proposal of same amount that was cleared was of KVK Energy & Infrastructure Pvt Ltd for induction of foreign equity in a company by way of subscription to fresh equity shares, fully convertible debentures or preference shares.
The Indian company is engaged in FDI compliant construction development projects, an official release said.Earlier, the Department of Telecom had withheld Letters of Intent to Bycell for launching mobile services in five circles. The investment plan of the company, which had applied for licences in Assam, Orissa, Bihar, North East and West Bengal circles in January 2006, also envisages raising of paid up capital.
Among other major proposals, Mumbai-based Dumeric Holdings Pvt Ltd''s Rs 400-crore proposal to convert status of operating company into operating cum holding company for making further downstream investments was also cleared.
Another proposal of same amount that was cleared was of KVK Energy & Infrastructure Pvt Ltd for induction of foreign equity in a company by way of subscription to fresh equity shares, fully convertible debentures or preference shares.
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