Bharti seeks Rs 4,900-cr FDI nod; infusion to make Airtel foreign firm

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 per cent 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 per cent stake in Bharti Telecom, at present.

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