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Fund raising mainly to make payments towards AGR-related liabilities
The rights entitlement ratio entails 1 equity share for every 14 equity shares held by eligible shareholders as on the record date
Telecom operator Bharti Airtel on Wednesday said its board will meet on August 29 to consider various capital raising options, including equity and debt.
Telecom operator Bharti Airtel on Wednesday said its board will meet on August 29 to consider various capital raising options.
'Airtel Black' offers four new fixed-bundle plans priced from Rs 998 per month to Rs 2,099 per month
Govt announces new guidelines to curb misuse of social media platforms; Bharti Airtel raises $1.25 bn through dual-tranche dollar bonds
The telecom sector is gearing up for spectrum auctions and roll-out of new-age technologies
Bharti Airtel had, last month, told the exchange that it has deferred the September quarter result announcement till November 14, due to the adjusted gross revenue (AGR) issue.
Last month, Bharti Airtel had said it would seek shareholders' approval at an EGM on January 3 for raising up to $ 2 billion through QIP
The board for now has given its go-ahead to raise up to $3 bn and has also approved raising an additional $1 bn, an official said
The fund raising proposal follows the Supreme Court judgement on adjusted gross revenue
Taking on the fierce competition posed by Reliance Jio and the upcoming auctions means burning more cash for companies like Airtel and Vodafone Idea