Norway-based Telenor Group has filed an application with the Foreign Investment Promotion Board (FIPB), seeking approval for an additional investment of Rs 7.8 billion to increase stake in its Indian telecom unit – Uninor to 100 per cent.

At present, Telenor Group holds 74 per cent stake in its Indian business unit. The remaining stake is held by the group’s Indian subsidiary Telewings Communications which offers telecom services under the brand name Uninor. Lakshdeep Investments and Finance Private Limited is the equity stakeholder in Telewings Communications.

Telenor Group plans to use funds worth Rs 7.8 billion to acquire the remaining stake held by Lakshdeep Investments and Finance Private Limited in Telewings Communications.