FIPB cleared 11 FDI proposals entailing a total FDI of Rs182.78 Cr in it's latest meeting. It deferred decisions on nine proposals and rejected six applications.
The proposals which were cleared for FDI investment included What's on India, Ace Derivatives and Commodity Exchange and 9x Media among others.
What's On Media recently announced an investment from Intel Capital. It has also raised funding from Nexus India and Sequoia Capital in 2008.
Ace Commodity Exchange got clearance for transfering equity shares to FIIs, however each FII cannot acquire more than 5% stake in the exchange as per the new norms for shareholding in bourses. Kotak owns majority stake in Ace Commodity Exchange, but it needs to bring down it's stake to 26% by 2014-15.
Here are the details of the FIPB meeting held on 30th September
FIPB Cases Approved in 170th Meeting
| |
4134
3846
945
4260
973
|
|
17649
42
1677
25526
3005
|
|
1369
459
3151
32715
140
|
|
24632
|
|
