Wipro GDR among Rs 5,287 cr. FDI cleared

NEW DELHI: The Rs 2,795 crore ADR/GDR issue of Wipro Ltd. has been approved by the commerce ministry. It was among the 108 cases of foreign direct investment worth around Rs 5,287 crore that was cleared by the ministry on Thursday.

Other clearances included FDI proposals worth Rs 64.5 crore in media and entertainment firm Zee Telefilms and Rs 733 crore FDI in software firm BFL Software Ltd . The FDI in BFL Software would be through an equity swap, following its recent acquisition of U.S.-based software maker MphasiS Corp. The deal involves the issue of 6.5 million equity shares.

(C) Reuters Limited 2000.