Telecom operator Bharti Airtel has plans to spend around Rs. 1,17,000 crore through business transactions with its subsidiaries such as Indus Towers, Nxtra and Bharti Hexacom, according to a regulatory document.
The company will hold an extraordinary general meeting of the company’s members on 26th February to also seek its approval for the issuance of shares to Google for around Rs. Investment of 7,500 crore in the company to buy 1.28 percent stake.
As per the notice from EGM, Bharti Airtel will spend Rs. 88,000 crore in business with mobile tower company Indus Towers, Rs. 15,000 crore to avail the services of datacenter company Nxtra and transactions up to Rs.14,000 crore with Bharti Hexacom.
Bharti Airtel will invest up to Rs. 17,000 crore in transactions with Indus Towers over the next 4 financial years and Rs. 20,000 crore in 2025-26, the document said on Saturday.
“Given the developments of 5G globally, it is likely that 5G will soon start to become a reality in India as well, slowly in major cities and then moving on to the rest of India across the full extent of our current network. Therefore, considering the increased passive infrastructure requirements during massive 5G rollouts, the company proposing the highest amount of transactions up to Rs. 20,000 crore per year with Indus Towers for fiscal year 2025-26”,