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In January 2014, Tikona received approval from the Foreign Investment Promotion Board to raise Rs 2.48 billion ( $41.8 million) through foreign direct investment.[8] Tikona requested an increase in the foreign equity participation from 71 per cent to 72.58 per cent through the issue of compulsorily convertible debentures and equity shares to the existing non-resident investors. The IFC funding comes as a part of this fund-raising exercise. These expansion plans will also help provide employment to 350 professionals and create 20, 000 indirect jobs in support and facilitation functions over the next five to six years.
