DIPP approves three FDI proposals, including Wockhardt’s

DIPP approves three FDI proposals, including Wockhardt’s

The commerce and industry ministry on Wednesday said it has approved three foreign direct investment (FDI) proposals, including that of Wockhardt Ltd and Coastal Local Area Bank. The department of industrial policy and promotion (DIPP), under the commerce ministry, has also approved KPB Holdings’ proposal to issue shares to non-resident Indians (NRIs). While Coastal Local Area Bank got nod for issuance of shares to NRIs, Wockhardt Ltd got approval for issuance of employee stock option plan to NRIs.

The Mint, New Delhi, 5th October 2017

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