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TMI BlogApproval of M/s. Aditya Birla Telecom Ltd. to receive foreign investment from P5 Asia Holding Investments (Mauritius) Ltd, MauritiusX X X X Extracts X X X X X X X X Extracts X X X X ..... Approval of M/s. Aditya Birla Telecom Ltd. to receive foreign investment from P5 Asia Holding Investments (Mauritius) Ltd, Mauritius X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 compulsorily convertible preference shares of a face value of Rs.10/- each of M/s. Aditya Birla Telecom Limited to P5 Asia Holding Investments (Mauritius) Limited for an aggregate consideration of the rupee equivalent of US D 640,000,000 (INR 2704.21 crore approximately), constituting 20% of the share capital of the company on a fully diluted basis. (b) The enhancement of the foreign investmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t limit in M/s. Aditya Birla Telecom Limited to 74% (c) M/s. Aditya Birla Telecom Limited to act as an "operating cum holding company" and make downstream investments from time to time as under: (i) To acquire 19047 equity shares of Rs.10/- each representing 16% of the total paid up equity share capital of M/s. Indus Towers Limited, a company which is engaged in the provision of passive infras ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tructure (i.e. towers) in the telecom sector. (ii) M/s. Aditya Birla Telecom Limited also holds 50,000 equity shares of Rs.10 each representing 100% of the equity share capital of M/s. Idea Cellular Towers Infrastructure Limited a company registered as an Infrastructure Provider - I with the Department of Telecommunication. The approval in this regard is post facto. The approval would result i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n FDI amounting to Rs.2704.21 crore (approx) in the country.
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