Govt approves FDIs worth over Rs 2,300 cr

The government approved 23 Foreign Direct Investment (FDI) proposals worth over Rs 2,325.21 crore, including that of broadband services provider Tikona Digital Network and auto components maker Bharat Forge.

"The Union Government has approved 23 FDI proposals amounting to approximately Rs 2,325.21 crore," an official statement said.

The highest FDI of Rs 1,142.21 crore is likely to come into Tikona Digital Network from convertible debenture and share sale, followed Kalyani group company Bharat Forge's proposal to raise Rs 576 crore by issuing warrants to overseas investors and medical device maker Opto Circuits' Rs 376.27-crore proposal.

Also, the government has deferred eight proposals, including Essar Capital Holding, Verizon Communications and Etisalat DB Telecom, besides rejecting six FDI proposals. However, Star India Holding has withdrawn its Rs 324.59-crore proposal, the statement said.

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