Bharti Telecom seeks ~4,900-cr FDI nod

Bharti Telecom, a promoter of Bharti Airtel, has sought the government nod for infusing ~4,900 crore from Singapore-based Singtel and other foreign entities, a move that would make the countr y ’s oldest private telecom operator a foreign entity.

The fund infusion will enhance foreign stakeholding in Bharti Telecom to over 50 per cent, which 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 in Bharti Telecom, at present.

Bharti

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

37 per cent in the company.

“Bharti Telecom has applied for infusion of ~4,900 crore in the company, which includes investments from Singtel and some other foreign investors,” the source said.

“With this Bharti Telecom will become a foreign entity as majority stake will be held by overseas investors. DOT is expected to approve this investment this month,” the source said.

DOT had earlier this year returned Bharti Airtel’s FDI application as the company had not provided clarity on the foreign investor. Total foreign shareholding is 43 per cent in Bharti Airtel, at present. With promoter firm Bharti Telecom becoming a foreign entity, foreign shareholding in the company will cross 84 per cent, the source said.