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The Foreign Investment Promotion Board (FIPB) has cleared foreign direct investment (FDI) proposals worth Rs 280 crore.
Among the key proposals that got a nod for allowing FDI investments is IvyCap Ventures’ proposal to allow NRI investments through the normal banking channel.
The FIPB also approved downstream investments of Spanco Power Distribution. While IT major Wipro got approval for transfer of shares by way of swap. This was consequent to demerger of non-IT activities.
GPX India got clearance to issue equity shares to foreign collaborators against import of capital goods, an official release said.
FIPB deferred the proposal of Yalamanchili Software Exports for share swap.
bindu.menon@thehindu.co.in
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