Airtel initiates process to revise foreign investment limit to 100%

NEW DELHI: Bharti Airtel Ltd said that it has received approvals for its relevant downstream investments and it is initiating process to revise its foreign investment limit to 100% with an immediate effect.

“Further to our intimation dated January 21, 2020, we wish to inform you that in compliance of the FDI approval dated January 20, 2020 granted to the Company by the Department of Telecommunications, the Company has received approvals for its relevant downstream investments,” Airtel informed in a filing.

“Accordingly, the Company is initiating the process to revise its foreign investment limit, as notified to its depositories, to 100% with immediate effect,” it added.