(Singapore) Pvt Ltd, Singapore, was incorporated for providing Voice Interconnection,
Prepaid International Calling Services, International Private Leased Circuits and VSAT
Trading. During the year 2007-08, Bharti Airtel Services Ltd (erstwhile Bharti Comtel
Ltd), the wholly owned subsidiary of the company, sold their entire shareholding in
Bharti Tele media Ltd to the company and Bharti Enterprise Ltd in the ratio of 40% and
60%, respectively. The company acquired 2% stake in a subsidiary of IFFCO Ltd called
IFFCO Kissan Sanchar Ltd at a consideration of Rs 50,125 thousand. Also, they invested
USD 1,200 thousand towards 1,200 thousand shares, of Bridge Mobile Pvt. Ltd,
Singapore (Bridge Mobile). During the year, the company entered into a joint venture
agreement with Vodafone Essar Ltd and Idea Cellular Ltd and formed an independent
tower company namely, Indus Towers Ltd for providing passive infrastructure services in
16 circles of India. In September 7, 2007, the company acquired 49% of the equity in
Bharti Aqua net Ltd, India at a consideration of Rs 159,549 thousand making Bharti
Aqua net Ltd a 100% subsidiary of the company. In September 28, 2007, they acquired
100% of the equity in Network i2i Ltd, Mauritius, at a consideration of USD 133,400
thousand. In October 1, 2007, the company incorporated a new company namely, Bharti
Airtel Holding (Singapore) Pvt. Ltd in Singapore as an investment holding company of
the company. In January 2008, the company transferred the passive telecom
infrastructure business of the company to Bharti Infotel Ltd. During the year 2008-09, the
company made their foray into media and television by redefining home entertainment
with Airtel digital TV. They launched their virtual calling card service 'Airtel Call Home'
in UK, Singapore and Canada. The service is targeted at the huge Indian Diaspora, Non-
Resident Indians ( NRIs) and Indian students in these markets. The company launched
their mobile services in Sri Lanka under the Airtel brand. They expanded their footprint
by launching their Mobile Services in Lakshadweep. They also launched Very Sign
Identity Protection (VIP) Services for their enterprise customers in India in partnership
with Verify Sign. In February
19, 2009, the company increased their stake in Bharti Hexacom Ltd by 1.11% through
acquisition of 2,780,306 equity shares for an aggregate consideration of Rs 166,818
thousand. In March 4, 2009, the company subscribed 1,470,000 equity shares (49%
stake) in Bharti Teleports Ltd for an aggregate consideration of Rs. 14,700 thousand. In