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Bharti Airtel board to meet on March 12, 2018 to consider raising funds for capex

March 08, 2018

The Bharti Airtel board will meet on March 12, 2018 to consider raising funds via debt instruments, including bonds, which will help fund its capex plans aimed at bolstering 4G networks. As per a regulatory filing to BSE, the operator stated that the funds could be raised via issuances of secured/unsecured, listed/unlisted, non-convertible-debentures, bonds or such other similar debt instruments either denominated in Indian rupees or in a foreign currency.

Over the past one year, Bharti Airtel has been raising funds by progressively reducing its stake in its listed tower unit, Bharti Infratel, to cut debt and free up cash and gird up for competition in 4G segment. It has raised nearly Rs 120.89 billion through multiple tiny stake dilutions in its tower arm. Recently, the company indicated that it may sell a much larger stake in Infratel than it has sold till now to fund its aggressive funding needs to bolster its 4G networks. Bharti Airtel and its wholly-owned arms own 53.51 per cent in the tower arm at present.

 
 

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