Government Approves Seven (7) Proposals of Foreign Direct Investment (FDI)

S. No

Item No

Name of the applicant

Gist of the proposal

Sector

FDI (Rs.  crore)

1

2

M/s IMCD India Pvt. Ltd

Post facto approval  for issuing 42,13,814 equity shares of ₹ 10 fully paid up at a premium of ₹ 140 per share to IMCD Finance BV as consideration for transfer of IMCD Group BVs Indian branch into IMCD India pursuant to a court approved scheme of demerger. The fair value of the share has been determined to be ₹ 14.04 per share.

Wholesale Trading

Nil

2

3

M/s Fincare Business Services Private Limited

Approval has been sought for amendment in the Clause 2, 5 and 6 of the approval letter dated 08.05.2015

Investing company/ Small Finance Bank

Nil

3

6

Haymarket SAC Publishing (India) Private Limited

Haymarket SAC Publishing (India) Private Limited has sought an approval for the take over the publication of the specialty magazine "Print Week" from Haymarket Media (India) Private Limited, its sister concern

Publication

Nil

4

7

M/s Laurus Labs Private Limited

Approval for downstream investment into Sriam Labs Private Limited (‘Sriam Labs’) by purchase of 10,368,455 equity shares of ₹ 10 each representing 73% of fully paid-up equity share capital of Sriam Labs from the existing shareholders for a total consideration of an amount of ₹ 22.99 crores, thereby Sriam Labs will become 100% wholly owned subsidiary of Laurus Labs

Pharma

22.99

5

11

M/s Reckitt Benckiser (India) Limited.

M/s Reckitt Benckiser (India) Limited, a WOS of the Reckitt group, proposes to acquire 25.028% paid up share capital of M/s Reckitt Benckiser Healthcare India Limited from its current foreign investor viz. M/s Reckitt Benckiser (Singapore) Pte. Ltd., Singapore

Pharma

Nil (outflow of ₹ 812 crore approx.)

6

13

Samara Capital Partners Fund II Limited

Approval has been sought for  the purchase of 100% of the shareholding of Adcock Ingram Healthcare Private Limited from Adcock Ingram Healthcare (Pty) Ltd and Adcock Ingram International (Pty) Ltd

Pharma

Nil

7

16

M/s Tikona Digital Networks Pvt Ltd

Approval has been sought for the issuance of CCDs thereby increasing foreign equity to 76.73%

Telecom

267.00

 S. No.

Item No

Name of the applicant

Gist of the proposal

Sector

1

5

M/s Celon Laboratories Limited

Approval has been sought for amendment in the following conditions in the FIPB approval letter dated August 3, 2015 and FIPB approval letter dated October 16, 2015.

Pharma

2

9

The Financial Times (India) Private Limited

(i)   Transfer of 99.99% of The Financial Times (India) Private Limited, to  Falstaff Singapore Pte Ltd, currently held by Pearson, Singapore for an aggregate consideration of SGD 1 (ii)  Transfer of 1 share of The Financial Times (India) Private Limited to Falstaff Singapore Pte Ltd, currently held by Pearson, Amsterdam (iii) Transfer of entire shareholding of Falstaff Singapore Pte Ltd to Nikkei Inc, currently held by Pearson, Amsterdam

Publishing

3

10

M/s HSBC Securities and Capital Markets (India) Pvt Ltd

Approval has been sought for: -
I. Merger of the FIPB approval letter no. FC-II 229(1994)/300(1994) dated 13.05.1994 (read along with 18 amendments) and approval letter no. FC-II 160(2005)/157(2005) dated 21.06.2005.
II. Incorporating a Wholly Owned Subsidiary which will act as a trustee company to HSBC Mutual Fund.
III. HSBC InvestDirect Financial Services(India) Limited[WoS of HSBC Invest Direct (India) Ltd] to engage into additional activities

Financial Services

4

14

 Quintillion Business Media Private Limited

Approval has been sought for the issuance of equity shares to BLOOMBERG L.P. The investee company is proposed to be engaged inter alia in the uplinking and broadcasting of a business news television channel and operating related digital content platform in India.

Up-linking of Non-News

5

15

M/s Morgan Stanley India Primary Dealer Private Ltd

 Approval for increasing equity participation from 75% to 100% by way of transfer of equity shares from M/s Morgan Stanley India Capital Private Limited (indirectly owned by Foreign Investor) to M/s Morgan Stanley Mauritius Company Limited, Mauritius by amending the earlier approval.

Financial Services

6

18

M/s Idea Cellular Infrastructure Services Limited

The applicant i.e. M/s Idea Cellular Infrastructure Services Limited (ICISL) is a wholly owned subsidiary of IDEA, which has become a foreign owned company with more that 50% foreign investment. Accordingly, ICISL is also deemed to have foreign investment in excess of 50% as a mirror image of its parent company. The proposal is to take on record the increase of foreign investment in ICISL beyond 50% and allow foreign investment in ICISL up to 67.5%.

Telecom

7

19

M/s BT Global Communications (Mauritius) Limited

Approval to acquire remaining 26% equity and preference share capital of M/s BT Telecom India Private Limited (Investee Company) from M/s Jubilant Stock Holding Private Limited, which will result in increasing its shareholding in the investee company from 74% to 100%.

Telecom