Anil Agarwal promoted Twin Star gets Rs 9,000 Cr FDI approval
The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi has given its approval for Foreign Investment proposal of Twin Star Technologies for foreign investment upto Rs. 9,000 crore (by on or before March 2025) from Twin Star Overseas, Mauritius.
The investment will be through a combination of equity, compulsorily convertible debentures, compulsorily convertible preference shares and other FDl compliant instruments for undertaking downstream investment in Twin Star Display Technologies and other Indian operating companies engaged in activities eligible for receiving FDl on the automatic route.
Foreign Direct Investment of upto Rs. 9,000 crore will be received in the country and will provide direct and indirect employment to over 30,000 people.
Twin Star Display Technologies is promoted by Volcan Investments to set up India’s first LCD manufacturing unit, known as Panel Fab. Volcan Investments, whose other investments include Vedanta Resources and Sterlite Technologies.
Twinstar Display Technologies will invest $10 billion over 5 phases in setting up India’s first and one of the world’s largest LCD fab units.
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