The Centre has approved seven proposals for Foreign Direct Investment (FDI) amounting to Rs.5,240.35 crore.
Approval for the largest amount of FDI was given to India Advantage Fund S4 I, a SEBI registered Alternate Investment Fund, which sought permission to accept contributions up to Rs.2,950 crore from offshore investors.
Others which got the nod include Paragon Partners Growth Fund for Rs.985 crore, L&T Finance Holdings Ltd for Rs.707 crore, Extramarks Education India Private Ltd for Rs.403.15 crore, Strugence Debt Fund for Rs.99 crore, Agio Image Ltd for Rs.77 crore and Menterra Venture Advisors Private Ltd for Rs.21.2 crore.
The approvals have been given based on the decisions taken by the Foreign Investment Promotion Board (FIPB) on November 9.
Four deferred
The four proposals that got deferred were from Sharekhan Ltd, PC Ghadiali and Co LLP, SunE Solar BV and Software is Correct, Inc.
The Centre also rejected five proposals for FDI which include ones from Limpkin Telecom, Euronet Services India, Rocktec Sands LLP, Images Franchising Management and Marvel Data Services LLP.
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