Acquisition of 51% shareholding by M/s. ATC Asia Pacific Pte. Ltd., Singapore in M/s. Viom Networks Ltd.

No: --- Dated: Apr, 06 2016

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval to the proposal of M/s. ATC Asia Pacific Pte. Ltd. Singapore for acquisition of 51% of shareholding in M/s. Viom Networks Limited by way of transfer from existing shareholders. 

The approval would result in a total foreign direct investment inflow of Rs.5,856.51 crore into the telecom infrastructure of the country which will spur economic growth, besides fostering inclusiveness and equity.