Bharti Airtel’s board has reportedly approved plans to raise upto Rs 75 billion via debt to build a war-chest. The telco needs cash to buy spectrum in the upcoming 4G auction, invest in networks, pay statutory dues, among other things.
Airtel board has also authorised a special committee of directors to decide, basis market conditions, on all matters related to the aforesaid issuance of securities, including but not limited to the finalisation and approval of the detailed terms & conditions, quantum of tranche(s) and timings of the issue.
Airtel has already raised around $8 billion in the last couple of years.
