Bharti Airtel clears debt of Rs 67.96 billion through preferential allotment of 5 per cent equity shares

Bharti Airtel is pulling out all stops to lessen its debt burden.

The operator has reportedly cleared debt of Rs 67.96 billion, of a total debt of Rs 638 billion.

The operator raised this amount through preferential allotment of 5 per cent equity shares in Bharti Airtel at Rs 340 per share to Qatar Foundation Endowment.

Prior to this, the operator had issued 199,870,006 new equity shares, representing 5 per cent equity stake in the company, to Qatar Foundation Endowment for Rs 67.96 billion.