DoT approves 100% FDI limit in Bharti Airtel

The Department of Telecommunications (DoT) has approved a 100 per cent foreign direct investment (FDI) limit for Bharti Airtel, the company announced after market hours on Tuesday. Earlier, the limit was 49 per cent.

“Bharti Airtel has received approval from the Department of Telecommunications vide its letter dated January 20, 2020, for increasing the limit of foreign investment up to 100 per cent of the paid-up capital,” the telecom company said in a regulatory filing on Tuesday.

“Subject to applicable laws, the aforesaid approval, read together with the RBI approval dated July 3, 2014 granted to the company, allows FPls (Foreign Portfolio Investors)/Flls (Foreign Institutional Investors) to invest in up to 74 per cent of the paid-up capital,” Bharti Airtel said in the statement, as quoted by an Economic Times report.