The government has cleared 20 foreign direct investment proposals that will bring in Rs 1,962.05 crore (Rs 19.62 billion), including Rs 924 crore (Rs 9.24 billion) by UTV Software Communications.
The proposals, approved by Finance Minister P Chidambaram on the recommendation of Foreign Investment Promotion Board, also included the offer from cement manufacturer Lafarge India for merger of Lafarge India Holding Pvt Ltd with Lafarge India Pvt Ltd, according to the finance ministry.
The Lafarge's proposal was cleared as per the order of Bombay high court, a finance ministry statement said.
UTV Software Communications' proposals would bring in Rs 923.94 crore (Rs 9.23 billion) through equity purchase in UTV Software and equity shares and warrants in UTV Global.
The FIPB has, however, deferred its decision on eight FDI proposals, including that of Singapore-based Delight Investments offer to invest in a Hindi-language
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