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StanChart arm to buy 14% in NDTV

New Delhi, Sept. 22: Standard Chartered Private Equity, a Mauritius-based arm of the banking entity, has been allowed to pick up a 14.35 per cent stake in NDTV for Rs 52.88 crore. The television company is involved in production and broadcast of news, current affairs, entertainment and distribution of news content.

The 18 foreign direct investment proposals worth Rs 118.93 crore that were cleared by finance minister Jaswant Singh include Shell International's plan to set up a wholly-owned subsidiary in India for a sum of Rs 14 crore.

Most of the FDI proposals pertain to chemicals, power, petrochem, IT and broadcasting.

GMR Power Corporation plans to set up a 200-mw power plant in Chennai with foreign funding worth Rs 35 crore. US-based Jaymran Chigumupati will invest Rs 5.11 crore to set up a company to manufacture biogeneric products.

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