Airtel receives approval for 100% FDI in subsidiaries

Airtel receives approval for 100% FDI in subsidiaries
Airtel CEO Sunil MittalBCCL
Telecom major Bharti Airtel on Tuesday said that it has received required regulatory approvals for 100 per cent foreign direct investment in its downstream companies.

In a regulatory filing, the company said that it is initiating the process to revise its foreign investment limit, as notified to its depositories, to 100 per cent with immediate effect.

"Further to our intimation dated January 21, 2020, we wish to inform you that in compliance of the FDi approval dated January 20, 2020 granted to the Company by the Department of Telecommunications, the company has received approvals for its relevant downstream investments," it said.

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Shares of Bharti Airtel on the BSE closed at Rs 565.75 per share on Tuesday, higher by Rs 18.65, or 3.41 per cent, from its previous close.

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Indian government has reportedly received 120-130 FDI proposals worth ₹12,000 crore from China since April
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