The Board of Directors of Bharti Airtel Ltd, in its meeting held today (i.e. December 04, 2019) has, subject to the approval of shareholders and/or other regulatory / statutory approvals, approved the raising of funds through:
a) One or more Qualified InstitutionS Placement, public and/or private offerings of equity shares, compulsory convertible debentures / other convertible securities / warrants / ADR / GDR or a combination thereof for an aggregate amount of USD 2 Bn (equivalent currency);
b) Issuance of unsecured and/or secured, listed and/or unlisted, Foreign Currency Convertible Bonds (FCCBs) or other similar security denominated in foreign currency(ies) or combination thereof in one or more tranches for an aggregate amount upto USD 1 Bn (equivalent currency) on private placement basis or otherwise; and
c) Issuance of unsecured and/or secured, listed and/or unlisted, redeemable non-convertible debentures along with warrants or other similar security denominated in INR or combination thereof in one or more tranches for an aggregate amount upto USD 1 Bn (equivalent currency) on private placement basis or otherwise.
Apart from USD 2 Bn under (a) above; the overall issuance under (b) & (c), for now shall be upto USD 1 Bn, thereby totaling to USD 3 Bn.
The Board also authorised the Special Committee of Directors for taking necessary steps for implementing the aforesaid proposals.
Shares of BHARTI AIRTEL LTD. was last trading in BSE at Rs.460.85 as compared to the previous close of Rs. 458.95. The total number of shares traded during the day was 638910 in over 8588 trades.
The stock hit an intraday high of Rs. 464.75 and intraday low of 454.65. The net turnover during the day was Rs. 294078418.