New-Delhi based Telecom company Bharti Airtel has planned to invest Rs 1.17 lakh crore in Capex and related expenses in the next four years period via its subsidiaries Bharti Hexacom, Indus Towers and Nxtra, The Economic Times reported.
The division of the total investment- Rs 1.17 lakh crore is as follows:
- Rs 88,000 crore will be spent on Indus Towers, the largest mobile tower installation company.
- Airtel will plough in Rs 15,000 crore for data centres with Nxtra.
- Rs 14,000 crore will be spent on Bharti Hexacom for transactions.
The AGM agenda shared in the filing states that 5G is likely to roll out in India soon, in the context of global developments, and the requirement of passive infrastructure has grown.
“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. Therefore, considering the increased requirements of passive infrastructure during massive 5G rollouts, the Company proposes the higher amount of transactions of up to Rs 20,000 crore per annum with Indus Towers for FY 2025-26,” the notice said.
Airtel will hold an annual general meeting (AGM) on February 26 to seek approval from shareholders for Rs 7,500 crore worth 1.28 percent stake issue to Google, it said.
Experts weigh in that Google’s $1 billion funding in Airtel will help the telecom company prepare 5G auctions slated for mid-2022 start and subsequent network rollouts.