The Indian government has approved 13 Foreign Direct Investment, FDI proposals amounting to over 1,258 crore rupees.
An official release said, these proposals were approved on the recommendations of the Foreign Investment Promotion Board, FIPB.
Those cleared include 755 crore rupees proposal of Shantha Biotechnics Pvt. Ltd. to buy out the shares held by NRIs and Indian residents, and about 222 crore rupees proposal of Equitas Holdings to increase FDI by issuance of equity shares.