The telecom tower company, Bharti Infratel has sought approval from its shareholders for raising limit on the foreign institutional investment (FII) in the company from the current 24 per cent to 49 per cent. Bharti Infratel has proposed an increase in the FII limit so that foreign institutional investors can invest in its equity share capital of the company, thereby providing more funds. Currently, FIIs hold a 17.10 per cent stake in Bharti Infratel.
According to the company, the approval from the shareholders of the company has been sought through postal ballot and the results would be announced before January 29, 2015.
Bharti Infratel is also reportedly looking to acquire stake in Viom Networks. The company is of the view that stake acquisition will enable it to expand its operations across the country.
