Online edition of India's National Newspaper
Wednesday, Jan 24, 2007
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Online edition of India's National Newspaper Wednesday, Jan 24, 2007 ePaper |
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Special Correspondent
GLOBAL CENTRE: Dell Chief Executive Officer Kevin Rollins shows the graphic layout of the Dell global business centre in Malaysia, on Tuesday.
NEW DELHI: The Central Government permitted Reliance Communications Ltd., an Anil Dhirubhai Ambani Group (ADAG) company, to go ahead with a global float to garner up to Rs. 5,400 crore (about $1.2 billion) from foreign institutional investors (FIIs). An official statement here revealed that the RCom float of securities in overseas markets is to account for more than 90 per cent of the total FDI inflow of Rs. 5,910.66 crore envisaged from the 23 proposals that were approved by Finance Minister, P. Chidambaram. Among the other proposals cleared, Lehman Brothers Investments has received the nod to bring in Rs. 225 crore in foreign exchange for converting its operating company Lehman Brothers Securities Pvt. Ltd. in to an operating-cum-holding company.
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