Ahmadabad based Torrent Pharmaceuticals' gets the governments nod for increasing FII investment limit to 35 per cent
Advertisement
Four pharma companies get a green signal for investment of Rs 4000 crore
FDI under the decade long UPA regime was put under a lot of speculation and stress, but ultimately granted relief measures of getting the prior approval from the Foreign Investment Promotion Board. Seems the FIPB magic wand finally seems to be working, with the government announcing a major push of Rs 4000 crore investment by four pharmaceutical companies in India. The immediate overhaul in the FDI is being led by Torrent Pharmaceuticals, which has been granted approval to invest Rs 3000 crore, the biggest in terms of value which ups its stake from 13.09% to 35% in the domestic entity. These approvals are based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 28, 2015.
Following this big deal closely is the Syngene International's proposal to raise FDI of around Rs 930 crore, by raising the foreign investment to 44 per cent from the approved percentage of 10 per cent by the government recently. The company stated its intent to raise the sum by way of initial public offering of equity shares to FIIs, FPIs and NRIs.
Permission was also granted to FDI of Rs 43.52 crore for Stericat Gut Strings Pvt Ltd as it sought to sell 77.5 per cent stake to Groupe Peters Surgical LLC (22.5 per cent of which would be via share swap), at this stage of approvals.
FDI under the decade long UPA regime was put under a lot of speculation and stress, but ultimately granted relief measures of getting the prior approval from the Foreign Investment Promotion Board. Seems the FIPB magic wand finally seems to be working, with the government announcing a major push of Rs 4000 crore investment by four pharmaceutical companies in India. The immediate overhaul in the FDI is being led by Torrent Pharmaceuticals, which has been granted approval to invest Rs 3000 crore, the biggest in terms of value which ups its stake from 13.09% to 35% in the domestic entity. These approvals are based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 28, 2015.
Following this big deal closely is the Syngene International's proposal to raise FDI of around Rs 930 crore, by raising the foreign investment to 44 per cent from the approved percentage of 10 per cent by the government recently. The company stated its intent to raise the sum by way of initial public offering of equity shares to FIIs, FPIs and NRIs.
Permission was also granted to FDI of Rs 43.52 crore for Stericat Gut Strings Pvt Ltd as it sought to sell 77.5 per cent stake to Groupe Peters Surgical LLC (22.5 per cent of which would be via share swap), at this stage of approvals.
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.