The Government on Wednesday cleared a total of eight foreign direct investment (FDI) proposals, including that of Norwegian telecom firm Telenor's Rs 1,000-crore proposal to hike its stake in Telewings from 49 per cent to 74 per cent.

The eight FDI proposals, which had been approved by the Foreign Investment Promotion Board (FIPB) on June 14, are worth Rs 1,311.54 crore.

The list of other FDI proposals cleared by the cabinet includes Mahle Holding India Ltd's Rs 280-crore proposal, Srei Infrastructure Finance's proposal to set up White label ATMs and Britain's Aveva Solutions Ltd's proposal for setting up an LLP for developing software.

The government statement also revealed that the Cabinet deferred decisions on ten applications, while rejected another six.

Multi Commodity Exchange's (MCX's) proposal to sell a stake in the exchange to Alexandra Mauritius Ltd (AML) through its initial public offering (IPO) has been rejected by the FIPB.

Mauritius-based trust AML had purchased nearly two per cent at a face value of Rs 5 apiece from MCX promoter Financial Technologies in 2008. The deal has already received the Securities & Exchange Board of India's post facto approval with a condition that MCX would obtain FIPB approval for the stake sale. But, as the FIPB has now rejected the deal, Sebi will now have to review its decision on the deal.