Airtel gets DoT nod to raise FDI limit to 100%

NEW DELHI : Bharti Airtel Ltd has received approval from the telecom department to increase foreign direct investment in the company to 100%, allowing the telecom operator to raise more capital if it so requires.

The Reserve Bank of India has already permitted overseas portfolio investors to invest as much as 74% in Bharti Airtel, the company said in a statement on Tuesday.

The Indian government’s approval will allow Singapore Telecommunications Ltd or Singtel, which owns a 35% stake in Bharti Airtel, to increase its stake in the Indian company.