Government Approves Up To 100% FDI In Bharti Airtel
The company also has the approval of RBI allowing foreign investors to hold up to 74 percent stake in the company.
The Department of Telecom has approved raising the foreign direct investment limit in Bharti Airtel Ltd. to 100 percent from 49 percent allowed earlier, a stock exchange filing of the company said on Tuesday.
The company also has the approval of the Reserve Bank of India that allowed foreign investors to hold up to 74 percent stake in the company.
"Bharti Airtel Ltd. has received the approval from the Department of Telecommunications (DoT) vide its letter dated Jan. 20, 2020, for increasing the limit of foreign investment up to 100 percent of the paid-up capital of the company," the filing said.
The approval comes few days before the company has to clear statutory liabilities of up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904.01 crore is spectrum dues (excluding the dues of Telenor and Tata Teleservices).
"...the aforesaid approval read together with the RBI approval dated July 3, 2014 granted to the company allows the FPIs/FIIs to invest upto 74 percent of the paid up capital of the company," it said.