MUMBAI, Oct 29 (Reuters) - Vodafone Group Plc hassought approval from the authorities to raise its stake in theIndia unit for 101.41 billion rupees ($1.65 billion) it said onTuesday, after India allowed foreign companies to take fullownership of local carriers.
Vodafone, which entered India in 2007 by buying HutchisonWhampoa's local cellular assets in an $11 billiondeal, directly and indirectly owns a combined 84.5 percent ofVodafone India, the country's No.2 telecoms company by users.
Vodafone directly owns 64.38 percent of the India unit.
In August, India relaxed rules on foreign holdings in thesector to allow companies such as Vodafone to own 100 percent oftheir Indian businesses.
Before the rule change, foreign companies were limited todirect stakes of no more than 74 percent in Indian carriers.
India's Piramal Enterprises owns about 11 percentof Vodafone India. The remainder is owned by investors includingIndian businessman Analjit Singh, Vodafone India's non-executivechairman.
Vodafone said on Tuesday after increasing its stake to 100percent in the India unit, the British telecoms operator wouldconsider providing additional capital by subscribing to sharesof the subsidiary.
Vodafone has told the Indian government it plans to investmore than $2 billion in the country, Telecommunications MinisterKapil Sibal told Reuters this month.