INR223.25 crore FDI approved
The government has approved three Foreign Direct Investment (FDI) proposals involving INR223.25 crore for Corona Remedies, Cydista Ltd., Mauritius, and Ordain Health Care Global.
Corona Remedies Private Limited, a pharmaceutical company, has received approval for foreign investment of 19.51 per cent by Cydista Ltd., Mauritius, by way of subscription of compulsorily convertible preference shares of the value of INR100 crore and purchase of equity shares from existing shareholders of the value of INR18 crore.
Ordain Health Care Global Pvt Ltd, also a pharmaceutical business, has received approval for the acquisition of certain intellectual property of Klar Sehen Private Limited to certain products, by way of a business transfer on a slump sale basis. This involves FDI of INR77.05 crore.
Macmillan Publishers International Ltd of the United Kingdom has been given approval to set up a new company to be incorporated in India. It involves FDI of INR28.2 crore. fii-news.com
