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Press Information Bureau
Government of India
Ministry of Finance
03-July-2014 14:14 IST
Government Approves One Proposal of Foreign Direct Investment (FDI) Amounting to About Rs. 489.99 Crore

 

            Further to Para 3 of the Press Release dated May 19, 2014, wherein it was stated that six (6) proposals had been deferred, the Government has approved one (1) proposal involving Foreign Direct Investment of Rs. 489.99 crore approximately.

 

The following one (1) proposal has been approved:

 

Sl. No.

Name of the applicant

Particulars of the proposal

Proposed FDI inflow

Sector

1

M/s Destimoney Enterprises Limited (DEL), Mauritius

(No. 249/2013-FC.I)

 

Proposal seeking approval for subscribing to 3,76,92,300 partly paid equity shares of face value of Rs.10 per share at a premium of Rs.120 per share (INR 52 per share payable upfront at the time of application) to be issued by PNB Housing Finance Ltd.

Up to Rs. 489.99 crore (Rs.195.99 crore will be brought up front and the balance upon subsequent Capital calls)

Banking

 

The following five (5) proposals have been deferred:

 

Sl. No.

Name of the applicant

Particulars of the proposal

Sector

1

M/s Indian Rotorcraft Limited, Mumbai

(No. FC.II 50/2011)

Approval for (i) undertaking final assembly of AgustaWesland’s helicopters for export to global customers or offered to Indian Civil market only and (ii) to change the name of foreign investor through a merger within the group.

Defence

2

M/s News Laundry Media Private Limited

(No. 08/2014-FC.I)

Approval has been sought for the acquisition of its shares by M/s Digital Media Laboratory Pte Ltd., Singapore.

I&B

3

M/s BNP Paribas India Holding Private Limited

[No. FC.II 68(2011)/83(2011)]

Proposal for commencement offering ‘trusteeship services trustee for private trusts and charitable trusts’ and ‘estate planning’ services to its clients in India through a new company to be established specifically for the purpose of rendering such services.

Trusteeship and Estate Planning

4

M/s Empays Payment Systems India Private Limited

(No. FC.II 85(2013)/32(2013)

Proposal to amend clause 8 of the FC approval by removing the stipulation of a minimum net worth of Rs. 100 crore.

 

Banking

5

M/s The Walt Disney Company (Southeast Asia) Pte. Limited

[No. FC.II 216(2000)/195(2000)]

Proposal seeking approval to infuse additional capital in M/s UTV Software Communication Limited by way of subscription to equity capital up to Rs. 1,100 crore and also make additional investments from time to time

I&B

 

 

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DSM/KA