By Malvika Joshi
The tribunal has also admitted RCom’s petition for a 51% stake sale in its telecom tower arm to Canada-based Brookfield Infrastructure
The deal will help Syntel offer enterprise communications solutions.
Access Technology Ventures led the round in Essential Products.
In March, Airtel sold a 10.3% stake in the tower unit to a consortium of investors for $952m.
Nettle Infrastructure Investments Ltd, a subsidiary of Bharti Airtel, is selling Bharti Infratel shares in a price range of 378 rupees to 397.85 rupees each.
The buyout was transacted at a purchase consideration of $88.9 million (RM381 million).
The shares are worth about Rs2,240 crore based on Tuesday’s closing price.
The other shortlisted bidder was a TPG-MBK consortium.
Hutchison entered the Austrian market in 2013 in taking over Orange Austria.
The ASX-listed firm will create a new government division post acquisition.