Dileep Kumar
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MUMBAI: The Walt Disney Company, which owns UTV Software Communications, has got government approval for infusion of additional capital into the latter by way of subscription to equity capital up to Rs 1,100 crore (Rs 11 billion).
The government approved the proposal of foreign direct investment (FDI) based on the recommendations of the Foreign Investment Promotion Board (FIPB) at its meeting held on 11 June. The approval also includes additional investments from time to time in UTV Software Communications.
Among other approved proposals is one from News Laundry Media for acquisition of shares by Digital Media Laboratory Pte Ltd., Singapore. The proposed FDI is Rs 125,000.
Meanwhile, UBMMedica India, Bengaluru’s proposal seeking post facto approval for transfer of 20 per cent equity shares from resident Indian to non-resident entity and approval for transfer of entire shares from existing foreign shareholder to another foreign entity, was rejected.
FIPB also rejected Life Positive Pvt Ltd’s proposal for increase in foreign equity participation from the existing 96 per cent to 99 per cent of the equity of the company and induction of further FDI of Rs 4.61 crore (Rs 46.08 million) by the foreign collaborators.
Overall, the government has approved 19 proposals of FDI amounting to Rs 2,326.72 crore (Rs 23.27 billion). Walt Disney gets FIPB nod to invest Rs 11 bn in UTV Software | TelevisionPost.com
The government approved the proposal of foreign direct investment (FDI) based on the recommendations of the Foreign Investment Promotion Board (FIPB) at its meeting held on 11 June. The approval also includes additional investments from time to time in UTV Software Communications.
Among other approved proposals is one from News Laundry Media for acquisition of shares by Digital Media Laboratory Pte Ltd., Singapore. The proposed FDI is Rs 125,000.
Meanwhile, UBMMedica India, Bengaluru’s proposal seeking post facto approval for transfer of 20 per cent equity shares from resident Indian to non-resident entity and approval for transfer of entire shares from existing foreign shareholder to another foreign entity, was rejected.
FIPB also rejected Life Positive Pvt Ltd’s proposal for increase in foreign equity participation from the existing 96 per cent to 99 per cent of the equity of the company and induction of further FDI of Rs 4.61 crore (Rs 46.08 million) by the foreign collaborators.
Overall, the government has approved 19 proposals of FDI amounting to Rs 2,326.72 crore (Rs 23.27 billion). Walt Disney gets FIPB nod to invest Rs 11 bn in UTV Software | TelevisionPost.com
