Cabinet gives booster FDI shot of Rs 2480.62 crore to ATC India

Cabinet Committee on Economic Affairs, under the chairmanship of Prime Minister Narendra Modi, has given its go-ahead to an FDI proposal for acquisition of 12.32 percent of equity share of ATC Telecom Infrastructure Private Limited by ATC Singapore (ATC Asia Pacific PTE Ltd.) This acquisition would bring an FDI inflow of Rs 2480.92 crore to India.
Engaged in providing telecom infrastructure services to different telecom operators, ATC Telecom Infrastructure already has FDI approval up to 86.36 percent, and with this FDI proposal, it will rise further to 98.68 percent. During the FY 2020-21, the cumulative FDI investment from ATS Singapore into ATC Telecom Infrastructure Private Limited would reach Rs 5417.2 crore considering the earlier approval that was granted in FY 2018-19.
ATC Telecom Infrastructure is engaged in services of providing telecom infrastructure to various telecom operators in India.
The government has allowed FDI investment up to 100 percent in Telecom Services Sector. Among this, 49 percent of the fund inflow should be under automatic route and beyond this, the FDI investment should inflow through the government route.