Fin Min defers decision on Jet Airways' QIP issue to FIIs

The Foreign Investment Promotion Board deferred decision on 14 proposals, including equity investment by foreign institutional investors through qualified institutional placement route in Jet Airways, an official release said.
The board also deferred a proposal of Bangalore-based Opto Circuits India Ltd's preferential issue of convertible warrants. The proposal had been deferred last month also. On Jun 3, the board of Opto Circuits had approved issuing 6 million convertible warrants on preferential basis to the promoters, directors and employees of the company and its subsidiaries at an approximate price of Rs 210 per share.
The FIPB, however, cleared 26 other proposals amounting to Rs 13.60 billion, the release said. The approved proposals include DB Corp Ltd's plan to make an initial public offering, including an offer for sale from existing promoters, up to 26% of post-IPO paid-up share capital.
23/10/09 Itika Sharma / Vandana Hingorani/Newswire 18/moneycontrol.com

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