The Union Government on 29 March 2010 approved 23 FDI proposals amounting to
around Rs 2,325.21 crore, based on the recommendations of the FIPB.
The highest FDI of Rs 1,142.21 crore is to come into Tikona Digital Network
from convertible debenture and share sale, followed by Bharat Forge's proposal
to raise Rs 576 crore by issuing warrants to overseas investors and Opto
Circuits proposal to gain Rs 376.27 crore from convertible warrants issue.
The government deferred eight proposals, which include Essar Capital Holding,
Verizon Communications and Etisalat DB Telecom, Telecordia Technologies Inc. It
also rejected six FDI proposals that include Visa Infrastructure, Issar
Pharmaceuticals and Forum Ventures.
Star India Holding BV withdrew its Rs 324.59-crore proposal.