Stocks

100% FDI nod for 3 arms may fetch $700 m for Airtel

Our Bureau Mumbai | Updated on January 13, 2021 Published on January 13, 2021

There could be an inflow $600-700 million in foreign direct investment with Bharti Airtel getting approvals for 100 per cent FDI in three of its downstream subsidiaries. Bharti Airtel had received approval from the Department of Telecommunication in January 2020, to increase its foreign investment limit to 100 per cent of the paid-up capital.

However, some of its subsidiary companies were awaiting approvals, which led to weightage drop in MSCI index rebalancing in August 2020 and thus significant outflows.

“Bharti is initiating the process to revise its foreign investment limit, as notified to its depositories, to 100 per cent with immediate effect. NSDL should soon update it MSCI Weight up can result into $600-700 million of inflow,” Edelweiss Alternative Research said in a report.

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Published on January 13, 2021
Airtel
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