This will bring the total Singtel investment in the subcontinent's largest private telco to US$650 million (S$1.18 billion). The figure is not inclusive of the US$650 million Network i2i submarine cable both companies are building to link Chennai, Mumbai and Singapore. The private fiber-optic network will stretch 10,800km.
SingTel already has a 15 percent stake in Bharti.
In a statement yesterday, SingTel president and CEO BG Lee Hsien Yang said that SingTel had gone into partnership with Bharti because it was impressed with the company's role in developing India's telecommunications.
"Bharti has made much progress since then and we are pleased to be increasing our investment in the group," he said, adding that "SingTel's commitment to Bharti extends beyond the provision of financial resources. As a strategic partner, SingTel is able to share its international experience and expertise in different aspects of operating a telecommunications business."
The Business Times reported that Bharti has also received another US$200 million from New York-based equity investors Warburg Pincus.
It will be using the cash infusions to create new fixed-line services in India, and to construct a long-distance backbone network. It has planned US$1 billion in new projects, which will bring its fixed line services beyond Madhya Pradesh state and into Tamil Nadu, Karnataka, and Haryana.
Bharti has also been bidding for mobile licenses in the country.
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