New Delhi: A total of 24 proposals involving FDI worth Rs158.82 crore
were cleared by finance minister P Chidambaram, yesterday. The
ADR / GDR offering proposed by ICICI Bank for issue of sponsored offering
of ADRs against existing shares involving FDI worth Rs44.45 crore was among
those approved by the minister. Colgate-Palmolive
Asia Pte''s plan to acquire approximately 20 per cent stake in Colgate-Palmolive
India Ltd from its New York-based parent company, Colgate Palmolive, involving
FDI worth Rs27.20 crore has also been approved. Boston-based
International Data Group''s proposal to set up a wholly-owned
subsidiary for printing and publishing technical magazines involving FDI worth
Rs13.13 crore has also received the go ahead from the government.
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