Bharti Airtel seeks govt permission to hike foreign holding in the company

Currently, Singtel owns over 35% in Airtel, while Sunil Mittal and his family hold around 27%

Telecom major Bharti Airtel has sought permission from the Union government to increase the foreign equity holding in the company.

Bharti Telecom, promoter of Bharti Airtel, could then seek equity from its existing promoter group (which might include its overseas entities) and Singapore-based SingTel, in proportion to their holding. 

Currently, Singtel owns around 35 per cent in Airtel; chairman Sunil Mittal and his family hold around 27 per cent. 

Bharti Airtel has applied for foreign investment up to 100 per cent, to keep further room for investments by foreign institutional investors or foreign portfolio investors as well, the company said in a regulatory