BBDO gets govt nod for foreign investment

BBDO India has finally got the official nod from India's Foreign Investment Promotion Board to formalize its setup.

According to the reports, BBDO has been permitted to induct foreign equity amounting to Rs 12.75 million from BBDO Worldwide into its wholly-owned subsidiary BBDO India. Following this, BBDO India will operate as a separate private limited company.

Reports suggests that, BBDO Worldwide will become a majority stake owner in BBDO India.

BBDO India was set up in 2007 under the leadership of chairman & national creative director Josy Paul.