CCEA approves foreign investment proposal of Twin Star Technologies Ltd.

| Updated: May 04, 2017 02:40 IST

New Delhi [India], May 3 (ANI): The Cabinet Committee on Economic Affairs (CCEA) has approved a foreign investment proposal of M/s. Twin Star Technologies Ltd. for foreign investment upto Rs. 9000 crore (by on or before March 2025) from Twin Star Overseas Ltd., Mauritius. The investment will be through a combination of equity, compulsorily convertible debentures, compulsorily convertible preference shares and other FDl compliant instruments for undertaking downstream investment in Twin Star Display Technologies Ltd. and other Indian operating companies engaged in activities eligible for receiving FDl on the automatic route. Foreign Direct Investment of upto Rs. 9,000 crore will be received in the country (on or before March 2025) and will provide direct and indirect employment to over 30,000 people. (ANI)