Idea Cellular seeks government approval for raising FDI limit to 100%

At present, 100% FDI is allowed in telecom companies, of which up to 49% can be done through the automatic route

Telecom operator Idea Cellular has approached the government for raising foreign direct investment (FDI) level in the company to 100 per cent.
 

"Application made to DIPP (Department of Industrial Policy and Promotion) for 100 per cent FDI in Idea," the company said in an investor presentation filed late on Friday evening.

Foreign investors hold around 27 per cent stake in Idea, as per shareholding pattern of the company till December 2017.

At present, 100 per cent FDI is allowed in telecom companies, of which up to 49 per cent can be done through the automatic route. The inflow of overseas investment beyond