The government on Friday cleared 16 foreign direct investment (FDI) proposals valued at Rs 891.71 crore, the bulk of them for by a power project, the government said on Friday.
The proposals were cleared on the recommendations of the Foreign Investment Promotion Board (FIPB), which met here July 10, a finance ministry statement said.
Delhi-based power company Teesta Urja has been allowed FDI investments worth Rs 547.2 crore through regularisation of allotment of equity shares on a partly paid basis.
KVK Energy and Infrastructure of Hyderabad have been allowed to raise additional FDI worth Rs 116 crore from an existing investor.
Mumbai-based IL&FS Trust Co has been allowed to raise Rs 108 crore so it can continue to hold stake in the Multi Commodity Exchange of India.
Thirteen proposals were deferred, which included/vt proposals from Jindal Saw, Vijay Mallya-promoted United Breweries, Unitech Wireless and Dish TV.