Bharti Telecom seeks Rs 4,900 crore FDI nod; infusion to make Airtel foreign firm
Updated : December 09, 2019 06:27 AM IST
Bharti Telecom, a promoter of Bharti Airtel, has sought government nod for the infusion of Rs 4,900 crore investment from Singapore-based Singtel and other foreign entities, a move that would make the country's oldest private telecom operator a foreign entity.
The fund infusion will enhance foreign stakeholding in Bharti Telecom to over 50 percent that will make it a foreign-owned entity.
Currently, Sunil Bharti Mittal and his family own around 52 percent stake in Bharti Telecom.