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Govt approves up to 100% FDI in Bharti Airtel from 49% allowed earlier

Govt approves up to 100% FDI in Bharti Airtel from 49% allowed earlier

The FDI approval comes few days before Bharti Airtel has to clear the 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)

Bharti Airtel also has the approval of the Reserve Bank of India (RBI) that allowed foreign investors to hold up to 74 per cent stake in the company Bharti Airtel also has the approval of the Reserve Bank of India (RBI) that allowed foreign investors to hold up to 74 per cent stake in the company

The Department of Telecom (DoT) has approved raising of foreign direct investment (FDI) in Bharti Airtel to 100 per cent from 49 per cent allowed earlier, a stock exchange filing of the company said on Tuesday.

The company also has the approval of the Reserve Bank of India (RBI) that allowed foreign investors to hold up to 74 per cent stake in the company.

"Bharti Airtel Limited has received the approval from the Department of Telecommunications (DoT) vide its letter dated January 20, 2020, for increasing the limit of foreign investment up to 100 per cent of the paid-up capital of the company," the filing said.

Also Read: Bharti Telecom seeks Rs 4,900 crore FDI nod; infusion to make Airtel foreign entity

The approval comes few days before the company has to clear the 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 up to 74 per cent of the paid-up capital of the company," it said.

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