New Delhi February 21, 2014 :- The Cabinet Committee on Economic Affairs has approved the proposal of M/s GlaxoSmithKline Pte Limited, Singapore for acquisition of 24.33 percent of shares in the existing Indian subsidiary company of the GSK Group in India by way of a voluntary open offer under SEBI (SAST Regulations) in the pharmaceutical sector.
The approval would result in foreign investment of approximately Rs. 6390 crore in the country.
