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Govt approves two proposals for FDI in media worth Rs 2502 crore

18-June-2015
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Govt approves two proposals for FDI in media worth Rs 2502 crore

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 218th meeting held on 28th May 2015, Government has approved 2 proposals of Foreign Direct Investment amounting to Rs. 2502.05 crore approximately in the media sector.

Government has approved the application of Today Magazines Lifestyle Private Limited worth Rs 2.05 crore. In an announcement, MOF said, “Approval has been sought by M/s Today Magazines Lifestyle Private Limited for foreign investment of 49% by Cooperatief International Publications Holding through transfer and further issue for an aggregate consideration of Rs 2.05 crores.”

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Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.