Exclusive | CCEA meet on November 25; ATC Telecom Infra's Rs 2,480 crore FDI proposal may get nod

The meetings of the Union Cabinet and Cabinet Committee on Economic Affairs (CCEA) will be held on November 25.

The meetings may discuss and likely approve Rs 2,480 crore foreign direct investment (FDI) in ATC Telecom Infra Pvt Ltd, according to sources familiar with the matter.

ATC Asia Pacific Pte. Ltd is looking to acquire 12.32 percent stake in ATC Telecom Infra Pvt Ltd through the FDI route.

ATC Telecom Infra provides telecommunications infrastructure solutions, as well as offers maintenance and operations services.

Founded in 2006, ATC Asia Pacific Pte Ltd's business includes holding or owning securities of companies other than banks.

The Cabinet meeting may also consider Rs 6,000 crore equity infusion in NIIF debt platform.

The NIIF Strategic Opportunities Fund has set up a debt platform comprising an NBFC Infra Debt Fund and an NBFC Infra Finance Company. The platform has a loan book of Rs 8000 crore and deal pipeline of Rs 10,000 crore. Atmanirbhar 3.0 had proposed Rs 6,000 crore equity infusion in NIIF Debt Platform.

NIIF has already invested Rs 2,000 crore in equity of the platform. The government is likely to invest Rs 6,000 crore as equity and the remaining equity will be raised from private investors, the sources added.