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Last Updated : Dec 04, 2019 05:46 PM IST | Source: Moneycontrol.com

Bharti Airtel board approves fundraising up to $3 bn via debt and equity

In an exchange filing, the company said it will launch one or more QIPs or offer for sale of equity shares or a combination of similar offers to raise $2 billion.

 
 
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The board of Bharti Airtel on December 4 approved a plan to raise up to $3 billion via debt and equity route.

Following its board meeting, the company, in a filing on the exchanges, said: "The Board also authorised the Special Committee of Directors for taking necessary steps for implementing the aforesaid proposals."

Of the aforementioned amount, $2 billion will be raised via a qualified institutional placement  (QIP). The remaining amount would be raised through the issuance of  foreign currency convertible bonds (FCCBs) or other similar security denominated in foreign currencies and through redeemable non-convertible debentures along with warrants or other similar rupee-denominated security.

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Airtel had earlier announced that it would be raising its tariffs starting December 3.

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First Published on Dec 4, 2019 05:25 pm
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