Airtel is investing Rs 1.17 lakh crore in India: Here’s what it plans to do
Airtel will also hold a general meeting on February 26 during which it will seek approval for giving a 1.28% stake of the company to Google.
Published:Mon, February 07, 2022 10:57am
Bharti Airtel is planning to invest a sum of Rs 1.17 lakh crore in its various subsidiaries in India over the span of next five years to strengthen its infrastructure in India. According to a PTI report, the company is planning to invest the amount via business transactions with its subsidiaries like Indus Towers, Nxtra and Bharti Hexacom.
The telecom giant will spend Rs 88,000 crore in business with mobile tower company Indus Towers, Rs 15,000 crore for availing services of data centre firm Nxtra and transaction of up to Rs 14,000 crore with Bharti Hexacom, which offers cellular service, broadband service and telecom service. Furthermore, the report said that Airtel will invest up to Rs 17,000 crore in Indus Towers in the span of next four financial years and Rs 20,000 crore in 2025-26.
These investments will help in strengthening its infrastructure and help in the rollout of 5G services in India starting later this year. "Given the 5G developments globally, it is likely that 5G will soon start to become a reality in India also, slowly in the key cities and then going into the rest of India across the length and breadth of our current network," the regulatory notice said.
"Therefore, considering the increased requirements of passive infrastructure during massive 5G rollouts, the Company proposing the higher amount of transactions of upto Rs 20,000 crore per annum with Indus Towers for FY 2025-26," it added.
Notably, Union Finance Minister Nirmala Sitharaman while announcing the Union Budget earlier this month said that 5G spectrum auction will be complete this year and that deployment of 5G services in India will begin in the financial year 2022-23.
In addition to this, Airtel will hold a general meeting on February 26 during which it will seek approval for giving a 1.28% stake of the company to Google for an investment of about Rs 7,500 crore.