Idea Cellular gets DoT nod to raise FDI limit to 100 per cent

Idea Cellular said on Monday that it has received approval from the Department of Telecommunications (DoT) to increase FDI limit in the company to 100 per cent from 67.5 per cent.

The approval is for total foreign investment of up to 100 per cent in Idea Cellular, and total indirect FDI in its relevant subsidiaries — Aditya Birla Telecom and Idea Cellular Infrastructure Services.

“The FDI approval is a major milestone in the merger process of Vodafone India with Idea Cellular, and follows other statutory approvals already received from Sebi, NSE, BSE, CCI and NCLT Mumbai and NCLT Ahmedabad,” it said in a filing.