Govt gives nod to Twin Star Technologies’ Rs 9,000 cr FDI proposal

The government of India has okayed a proposal of Twin Star Technologies, promoted by billionaire Anil Agarwal’s family, envisaging investment of up to Rs 9,000 crore from a Mauritius-based company.

A decision in this regard was taken by the Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi.

As per the proposal, Twin Star Technologies will get foreign investment up to Rs 9,000 crore (by on or before March 2025) from Twin Star Overseas, Mauritius.

A statement said, “The investment will be through a combination of equity, compulsorily convertible debentures, compulsorily convertible preference shares and other FDl compliant instruments.”

Image Credit : static.dnaindia.com

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