Bharti Airtel’s shareholders have approved proposals to raise up to $2 billion in equity and another $1 billion in debt.
According to a regulatory filing, the proposal for issuance of securities worth up to $2 billion received 99.99 per cent votes in favour of the special resolution at the company’s extraordinary general meeting (EGM) held recently. The second special resolution was for the issuance of foreign currency convertible bonds and unsecured/secured redeemable non-convertible debentures with or without warrants, which also received 99.99 per cent votes in favour of the proposal.
In December 2019, Bharti Airtel had announced plans to seek shareholders’ approval for raising up to $2 billion through qualified institutional placement, public issue, preferential shares or private placement and an additional $1 billion through foreign currency convertible bonds (FCCB) or debentures at its EGM.
