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FDI clearance for Coke, Vodafone, Rabobank
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Mothercare allowed to set up a wholly-owned subsidiary
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NEW DELHI:
Coca Cola's Rs. 549 crore proposed investment in its Indian arm was among the 25 FDI proposals, totalling Rs. 773.52 crore, cleared by Finance Minister P. Chidambaram on Thursday.
Vodafone's plans of picking up up to 49 per cent stake in Bharti for Rs. 32.90 crore was among the major FDI proposals approved by the Foreign Investment Promotion Board (FIPB) in its meeting held on November 11, according to a Finance Ministry release.
Gujarat State Petronet will see an inflow of Rs. 138 crore from FIIs, NRIs and other foreign investors, who have subscribed to its initial public offer.
Rabobank's proposal to pick up 20 per cent stake in Yes Bank for Rs. 8.37 crore was also approved. The Government also gave the green signal to U.K.-based Mothercare for setting up a wholly-owned subsidiary in India at an investment of Rs. 32.25 crore. — PTI
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