Govt clears Dishnet ADR/GDR

Govt clears Dishnet ADR/GDR

NEW DELHI, FEB 15: The Government on Tuesday approved a proposal by Internet service provider Dishnet DSL Ltd to raise foreign equity through the issue of American Depository Receipts/Global Depository Receipts up to 45.125 per cent of its paid-up equity capital. "The Cabinet Committee on Economic Affairs has approved the proposal of Dishnet DSL Ltd for induction of foreign equity through the issue of ADR/GDR up to 45.125 per cent in the paid-up equity capital of the company for expansion of the activities of the company as a leading Internet service provider," Information Technology minister Pramod Mahajan told reporters.