The Government has approved six proposals for Foreign Direct Investment (FDI) amounting to Rs 1,810.25 crore—the largest from IIFL Holdings Ltd.
Other proposals that got a nod from the Finance Ministry following recommendations made by the Foreign Investment Promotion Board include US-based Monsoon Capital LLC, Sharekhan Ltd, Agile Electric Sub-assembly Pvt Ltd, Serap India Pvt. Ltd and SeQuent Scientific Ltd, according to an official release.
Value-wise, IIFL Holdings’ proposal was the largest, as the NBFC seeks to increase the foreign equity from 50.16 per cent to 80 per cent by way of issuing shares to FIIs.