Govt Of India Clears FDI Proposals Worth Rs 5, 240 Cr

12 December,New Delhi

The government has approved seven foreign direct investment proposals, including that of India Advantage S4I, worth Rs 5,240 crore.

The Foreign Investment Promotion Board (FIPB) rejected five proposals while deferring decision on another four.India Advantage Fund S4 I, a SEBI registered AIF, had sought approval to accept contributions up to of Rs 2,950 crore from offshore investors.

FDI proposals of Rs 985 crore and Rs 750 crore of Paragon Partners Growth and L&T Finance respectively were also approved by the FIPB.Sharekhan and SunE Solar BV were among companies decision whose FDI proposals was deferred.

Applicants whose proposals got rejected included Euronet Services and Limpkin Telecom.