Moneycontrol Be a Pro
Get App
Last Updated : Dec 04, 2019 05:46 PM IST | Source:

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.

  • bselive
  • nselive
Todays L/H

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.

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

Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.
First Published on Dec 4, 2019 05:25 pm
Follow us on
Available On