US-based mobile chip maker Qualcomm today sold 26 per cent stake in broadband unit in India to Tulip Telecom and Global Holdings for USD 57.72 million (about Rs 268 crore).

Qualcomm had acquired Broadband Wireless Access (BWA) spectrum in four circles in the auction held last month and the company has to induct an Indian partner with at least 26 per cent equity to be able to get telecom licence as per the rules.

The company has sold 26 per cent stake--divided equally between telecom networking firm Tulip Telecom and Global Holdings, owners of telecom infrastructure firms GTL Ltd and GTL Infra, Qualcomm told reporters here.

"The enterprise value is USD 1.11 billion, the equity portion is USD 222 million and USD 888 million debt. Tulip and Global Holdings have (jointly) taken 26 per cent stake for USD 28.86 million each," Qualcomm India and South Asia President Kanwalinder Singh told reporters here.

Qualcomm had recently formed its India unit after its USD one-billion purchase of BWA spectrum.

The company is looking at offering high-speed internet services to boost sales of smartphones and the chips that power them.

Qualcomm sells chips used in cellphones and is a pioneer in CDMA-based wireless technology.

India is the world's fastest growing mobile market with more than 600 million mobile phone users.