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Bharti Airtel to raise Rs 30 billion via issue of debentures

March 09, 2018

Bharti Airtel has decided to raise approximately Rs 30 billion through the issue of listed, unsecured, rated, redeemable, non-convertible debentures through private placement.

According to the company, the funds will be utilised to fund the capex plans of the operator aimed at bolstering 4G networks.

Over the past one year, Bharti Airtel has consistently divested stake in its tower arm, Bharti Infratel in order to reduce debt and aggregate funds. It has raised nearly Rs 120.89 billion through multiple stake sakes in Bharti Infratel. Further, the operator recently hinted its interest in selling a larger stake in Bharti Infratel to source fund to bolster its 4G networks. Bharti Airtel holds 53.51 per cent stake in the tower arm at present.

 
 

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