Bharti Telecom seeks ₹4,900 crore FDI nod; infusion to make Airtel foreign firm

NEW DELHI: Bharti Telecom, a promoter of Bharti Airtel, has sought government nod for the infusion of ₹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% that will make it a foreign-owned entity, an official source aware of the development told PTI. Sunil Bharti Mittal and his family own around 52% stake in Bharti Telecom, at present.

Bharti Telecom holds around 41% stake in Bharti Airtel while foreign promoter entities hold 21.46% stake in the telecom firm. Public shareholders have around 37% stake in the company.