Bharti Airtel Plans to Spend Rs. 1,17,000 crore on Businesses with Subsidiaries
Bharti Airtel has planned to invest with subsidiaries on Businesses over 5 years and revealed an investment of about 1,17,000 crore.
The subsidiary company of Bharti Airtel is Bharti Hexacom, Indus Tower, and Nxtra.
Airtel has its plan to invest with subsidiaries businesses for 4 years.
Highlights
- Airtel will invest about 88,000 crores individually with Indus Tower.
- Both the parties will hold a general meeting to discuss the terms and conditions of the deal.
- The giant networking company will invest about 15, 000 crore to avail the data centers.
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India’s Giant network operating company Bharti Airtel has announced in a regulatory filing that it will invest a huge amount 1, 17, 000 crores with Subsiadaries like Indus Tower, Nxtra, and Hexacom, for a period of upcoming 5 years.
Bharti Airtel Company will convene a general meeting of the members of the company on 26th February. The object of the meeting will be seeking the ‘approval for issuing shares for its Google for its about 7, 000 crore investment in the company too but it’s a 1.28 percent stake.
As per the notice of EGM, the company Airtel has announced the individual investment in the company as it will invest around 88, 000 crore with the tower setup company Indus Tower, 15, 000 crores with the datacenter company Nxtra, and about 14, 000 crore with Bharti Hexacom.
Bharti Airtel company has also revealed that it will invest 17, 000 crore on transactions with Indus Tower in the next four years and 20, 000 crore in 2025-26.
Filing report said
“Given the 5G development globally, it is likely that 5G will soon start to become a reality in India also, slowly with the key cities and then going in the whole India across the length and breath our current network. Therefore considering the increased requirements of passive infrastructure during massive 5G rollout, the company proposes a higher amount of transactions of up to Rs. 20,000 crore per annum with Indus Tower for FY 2025-2026.”
