New Delhi: It seems that soon Bharti Airtel, the telecom service provider company, will become foreign. Its promoter Bharti Telecom has sought permission from the government for foreign direct investment (FDI) of Rs 4,900 crore coming from Singapore's Singtel and several other foreign companies. If this investment is approved, then the country's largest private telecom operator can become a foreign company.

If banks are trapped in insurance companies, then you can get so much money

It is worth mentioning that many telecom companies including Bharti Airtel are going through a lot of problems due to issues like competition from Jio and Adjusted Gross Revenue (AGR). Airtel only has to pay arrears of Rs 43,000 crore to the government under the head of AGR. Currently, its promoter Sunil Bharti Mittal and his family hold about 52 percent stake in Bharti Airtel. According to the news agency PTI, after FDI, foreign share in the company can be more than 50 percent.

Maruti production increased in November after 9 months of cut, data sent to stock market

That is, it will be dominated by foreign investors and according to the rule the company will be considered as foreign. According to sources, 'Bharti Telecom has applied for approval of the investment of Rs 4,900 crore received from Singtel and many other foreign investors in the company. With this, Bharti Telecom will become a foreign company, because more of the stake will be of foreign investors. The telecom department can get its approval this month.

India Post Payments Bank: Now get rid of minimum balance and PIN recall