Bharti Telecom receives Rs 13.8 billion as investments in bonds from top fund houses

As per industry sources, Bharti Telecom has received investments in Rs 13.8 billion bonds raised by the company last month. The investors include fund houses such as Kotak Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life MF and Nippon India MF, a bond house and a general insurance company.

Further, the telco also received investments from ICICI Prudential Mutual Fund, Axis Mutual Fund, Gilts and Reliance General Insurance in the bonds floated to participate in a Rs 210 billion rights issue.

Fund houses invested through various growth and income schemes. Kotak Mutual Fund and Aditya Birla Sun Life Mutual Fund made the maximum investment of Rs 3 billion each. Nippon Life Mutual Fund invested Rs 2.45 billion, HDFC Short Term Debt Fund and Axis Mutual Fund invested Rs 1.5 billion each, and ICICI Prudential Mutual Fund invested Rs 1 billion.

In addition, PNB Gilts and Reliance General Insurance subscribed bonds worth Rs 850 million and Rs 500 million, respectively.

Bharti Telecom is the parent company of Bharti Airtel. It is owned 50.56 per cent by Bharti Enterprises Holding and 49.44 per cent by Singtel Group.