Government approves ten (10) proposals of Foreign Direct Investment amounting to Rs. 2857.83 crore approximately.

Government approves ten (10) proposals of Foreign Direct Investment amounting to Rs. 2857.83 crore approximately.

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 17th February 2015, Government has approved 10 (ten) proposals of Foreign Direct Investment amounting to Rs. 2857.83 crore approximately.

Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 17.02.2015

Following 10 (ten) proposals have been approved by the Government:

s.n.	Item No	Name of the applicant	Gist of the proposal	Sector	Proposed FDI
1	2	M/s Air Works India (Engineering) Private Limited, Mumbai	M/sAir Works India (Engineering) Private Limited is seeking approval for increasing foreign investment resulting in increase of Indirect FDI in its WoS engaged in Aircraft Management Services and Air Charter Services as “Non Scheduled Operators Permit.	Civil Aviation	Rs.40 crore
2	3	M/s Luvenus Jewellery Pte Ltd	Approval has been sought by M/s Luvenus Jewellery Pte Ltd for (i) incorporation of a WoS to set up a retail outlet at the Mumbai International Airport. (ii) Exemption/waiver from condition of 30% sourcing of goods from India. (iii) Funding the company for future expansion.	Duty free shops	Rs.1.25 crores
3	5	M/s Ostro Energy Private Limited, New Delhi	M/s Ostro Energy Private Limited, New Delhi has sought permission as a core investment company for investment of USD 230 million (approximately INR 1400 crores) over the next 4-5 years in wind energy assets in India via downstream investment.	Investing company	Rs.1400 crores approx., over the next 4-5 years
4	18	M/s Alere Medical Private Limited, New Delhi	Approval has been sought for amalgamation of M/s Alere Medical Private Limited and M/s SD Bio Standard Diagnostics Pvt. Ltd., two pharmaceutical companies	Pharma	Nil
5	22	M/s Koye Pharmaceuticals Private Limited, Mumbai	M/s Koye Pharmaceuticals Private Limited, a brownfield Pharmaceuticals company, has sought permission to issue additional 6,060 CCPS, constituting up to 25.97% of the share capital of the company on a post-issuance and fully diluted basis to a new foreign investor. Post the issue of ESOP shares, the new foreign investor will hold 25% of the paid up capital on a fully diluted basis.	Pharma	Rs.60 crores
6	23	M/s Ipca Laboratories Limited, Mumbai	M/s IPCA Laboratories Limited, a listed company engaged in pharmaceutical sector has sought approval for FII investment upto 35% in the company	Pharma	Rs.900 crores approx.
7	24	M/s Reckitt Benckiser (India) Limited.	M/s Reckitt Benckiser (India) Limited, a WOS of the Reckitt group, proposes to acquire 24.887% paid up share capital of M/s Reckitt Benckiser Healthcare India Limited from its foreign investor viz. M/s Reckitt Benckiser (Singapore) Pte. Ltd., Singapore.	Pharma	Rs.750 crores (Outflow)
8	25	M/s Biogenomics Limited	Approval has been sought by M/s Biogenomics Limited to increase the foreign equity from 74% to 92.28% of the existing foreign shareholders by further infusion of capital amounting to Rs.75 crores.	Pharma	Upto Rs.75 crores
9	26	M/s Syngene International Limited, Bangalore	An Indian Pharma Company, engaged in contract R&D and manufacturing to third parties, is seeking approval for 10% foreign equity participation in its equity shares capital.	Pharma	Rs.380 crore
10	34	M/s Wacoal International Hong Kong Co. Ltd. (Hong Kong)	M/s Wacoal International Hong Kong Co. Ltd. (Hong Kong) has sought approval to set up a JV with 51% equity participation for undertaking of single brand retail trading of products under the brand name ‘Wacoal’. Remaining 49% of the equity share will be held by an Indian JV partner	SBRT	USD 255,000 (Rs.1.58 crore approx.)