The Centre has approved 17 proposals for foreign direct investment (FDI) amounting to Rs 262.56 crore, which include pharmaceutical company Sanofi’s application to invest Rs 180 crore to acquire another pharma company. The company plans to invest the acquisition via internal accruals.
Meanwhile, other approvals include Rs 70 crore brought in by Augere Wireless Broadband to capitalise the balance amount of the spectrum fee earlier paid to the Department of Telecommunications, induction of Rs 7.65 crore by Na Pali Europe SARL’s in an Indian company to carry out single brand retail trading and issue and allotment of shares issued towards pre-incorporation expenses to carry out the business of manufacture of Auxillary equipment used in Plastic/Polymers processing industry worth Rs 2.54 crore by Zap Piling India, Chennai, on incorporation of the company.
In India, Sanofi operates through five entities - Sanofi India (previously known as Aventis Pharma), Sanofi-Synthelabo (India), Sanofi Pasteur India, Shantha Biotechnics and Genzyme India.
