Cabinet approves investment proposal from Mauritius firm

Speed Post News Network

New Delhi : The Cabinet Committee on Economic Affairs chaired by PM Narendra Modi has given its approval for Foreign Investment proposal of M/s. Twin Star Technologies Ltd. for foreign investment up to Rs 9,000 crore ( 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 FDI 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, according to a PIB release.  Foreign Direct Investment of up to 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.