Telecom operator Bharti Airtel on Wednesday has bought 4.9 percent stake in Bharti Infratel. The purchase was carried out via block deals and are within norms for creeping acquisition -- which limit promoter purchases at 5 percent of equity in a year.
Another interesting angle is JPMorgan’s report on Bharti Infratel. According to the report, in the NSDL website, it is showing 100 percent FDI via government route for Bharti Infratel.
This means that MSCI is still considering the FII limit at 49 percent and the free-float factor at 35 percent because of that. In the February review of MSCI, most likely it is going to increase the weight of Bharti Infratel because of this change to 100 percent FDI limit.
CNBC-TV18’s Nimesh Shah has more details.