India's foreign direct investment u-turn hits IPO plans
The Indian government's move to defer the easing of foreign direct investment in insurance will scupper the plans of large companies considering initial public offerings and may push consolidation, according reports in the Indian press.
The Times of India reported last week that the proposal to increase the FDI cap in insurance to 49%, introduced in the 2004-05 Budget, had been shelved as the government did not have the numbers to
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