has applied for infusion of Rs 4,900 crore in the company which includes investments from Singtel and some other foreign investors. 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.
The Department of Telecom 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. Bharti Airtel
has already been in discussion with Singtel and other entities for fund infusion.
The company in August had informed stock exchanges that Bharti Telecom in order to retire some debt may seek equity from its existing promoter group which may include overseas entity and Singtel in proportionate to its holding.
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