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 ₹ 5,856.51 crore into the telecom infrastructure of the country which will spur economic growth, besides fostering inclusiveness and equity.

Foreign direct investment approval: acquisition of majority stake in telecom infrastructure permitted, enabling inbound capital and transfer. Approval is granted for the acquisition of 51% shareholding in M/s. Viom Networks Limited by M/s. ATC Asia Pacific Pte. Ltd., Singapore through transfer from existing shareholders, constituting a government authorization of foreign direct investment into the telecom infrastructure sector.