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Bharti Airtel plans to raise up to Rs 3,000 crore

Bharti Airtel plans to raise up to Rs 3,000 crore

New Delhi: Telecom major Bharti Airtel has plans to raise up to Rs 3,000 crore through non-convertible debentures.

A meeting of committee of directors is “scheduled on Tuesday, March 13, 2018 to inter-alia consider and subject to market and other conditions, issue listed, unsecured, rated, redeemable, non-convertible debentures (NCDs Series I and II) on private placement basis aggregating up to Rs 3,000 crore”, the company said in a BSE filing.

Besides this, board of directors of the company will meet on March 12 to consider fund raising opportunity for the company.

As on December 31, 2017, the company’s consolidated net debt stood at Rs 91,714 crore higher than Rs 91,480 crore in the previous quarter.

Shares of Bharti Airtel on Friday closed 0.19 per cent higher at Rs 401.95 apiece on BSE.

PTI