ITI Executive Profile: Bharti Tele-Ventures Ltd.

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Incorporated on July 7, 1995, Bharti Tele-Ventures Ltd is a division of Bharti Enterprises. The businesses of Bharti Tele-Ventures are structured into two main strategic groups - Mobility and Infotel. The Mobility business provides GSM mobile services in all 23 telecommunications circles in India, while the Infotel business group provides telephone services and Internet access over DSL in 15 circles. The company complements its mobile, broadband, and telephone services with national and international long-distance services. The company also has a submarine cable landing station at Chennai, which connects the submarine cable connecting Chennai and Singapore. Bharti Tele-Ventures provides end-to-end data and enterprise services to corporate customers by leveraging its nationwide fibre-optic backbone, last mile connectivity in fixed-line and mobile circles, VSATs, ISP and international bandwidth access through
the gateways and landing station. All of Bharti Tele-Ventures' services are provided under the Airtel brand.

As of September 2005, Bharti Tele-Ventures was the only company to provide mobile services in all 23 telecom circles in India.

By the end of October 2005, Bharti Tele-Ventures was serving more than 14.74 million GSM mobile subscribers and 1.10 million broadband and telephone (fixed line) customers.

The equity shares of Bharti Tele-Ventures are currently listed on the National Stock Exchange of India Ltd (NSE) and the Stock Exchange, Mumbai (BSE). As of September 30, 2005, the main shareholders of Bharti Tele-Ventures were: Bharti Telecom Ltd (45.65%), a subsidiary of Bharti Enterprises; Singapore Telecom (15.69%), through its investment division Pastel Ltd; and, Warburg Pincus (5.65%), through its investment company Brentwood Investment Holdings Ltd). Other shareholders with more than a 1% stake were: Citi Group Global Markets Mauritius Pvt Ltd (2.99%); Europacific Growth Fund (2.04%); Morgan Stanley & Co International Ltd (1.93%); CLSA Merchant Bankers Ltd A/C Calyon (1.33%); Life Insurance Corporation of India (1.34%); and, The Growth Fund of America Inc (1.11%).