FDI of Rs.8.05 bn approved in Shriram Retail Holdings

December 4th, 2008 - 5:04 pm ICT by IANS  

Manmohan SinghNew Delhi, Dec 4 (IANS) A cabinet panel Thursday approved foreign direct investment of Rs.8.05 billion in Shriram Retail Holdings Private Limited by TPG India Investments of Mauritius.”This will be done through the issue of 1,834,162 equity shares and 1,538,278 warrants convertible into as many shares of Shriram Retail Holdings Private Limited,” Science and Technology Minister Kapil Sibal said.

He was briefing reporters after a meeting of the cabinet committee on economic affairs presided over by Prime Minister Manmohan Singh.

“The investment would be subject to the conditions recommended by FIPB (Foreign Investment Promotion Board),” Sibal added.

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