A 12-storey building in the heart of Port Louis, the capital of Mauritius, holds significance in India’s FDI inflows story. Much of the $55-billion investment into India from the island — which accounts for 40 per cent of India’s FDI — originates from just this one building.
The list of investors housed in ‘One Cathedral Square’ on Jules Koenig Street in downtown Port Louis include TMI Mauritius Ltd, which has its registered office on level 6 of the building. It was through TMI Mauritius, a wholly-owned subsidiary of Axiata Group Bhd, that the Malaysian firm picked up a stake in Idea Cellular in a $1.6 billion deal.
The TMI Mauritius investment comes in right at the top as the single biggest deal in the Department of Industrial Policy and Promotion’s list of top 10 FDI equity inflow cases from April 2000 to January 2011.
Oracle Global (Mauritius) Ltd, which is No. 2 on Mauritius’s list of FDI investors in India, also has its offices on the fifth floor of One Cathedral. It seems only incidental that the building also houses the Registrar of Businesses in Mauritius, along with the Board of Investment.
Other investors with an India focus in One Cathedral Square include Blackstone FP Capital Partners and Blackstone GPV Capital Partners. Intel Capital, which is among the most active venture capital firms providing seed money to IT start-ups here, is also in the same building
source: Indian Express
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