Bharti Airtel Approves Debt Fundraising Of Up To Rs 7,500 Crore
The board of Bharti Airtel approved the raising of funds up to Rs 7,500 crore through debt instruments,
Bharti Airtel Ltd.'s board approved debt fundraising of up to Rs 7,500 crore.
The board's decision came after a review of the company's routine financing and refinancing strategies, including any market maturities, according to its exchange filing on Tuesday.
The board granted approvals for raising funds through the issuance of secured and unsecured, listed and unlisted non-convertible debt securities, including debentures and bonds in one or more tranches from time to time, subject to regulatory and statutory approvals, according to its exchange filing on Tuesday.
Last month, Bharti Airtel announced a $1 billion partnership with Google LLC. to focus on enabling affordable access to smartphones across price ranges, co-create India-specific network domain use cases for 5G and other standards, and accelerate the cloud ecosystem for businesses across the nation.
The company reported a 27% sequential decline in net profit in the third quarter of FY22 due to an increase in finance costs and expenses ranging from network operating expenses to access charges, license fees, and marketing expenses.