Sunil Mittal-driven Bharti Airtel to raise funds via bonds
The move comes at a time Airtel is trying to sell stake in its tower infrastructure unit, Bharti Infratel.
By ET Bureau | Updated:
MUMBAI: Bharti Airtel plans to raise funds via a private placement of bonds as India's No 1 telco builds up a war chest to take on newcomer Reliance Jio Infocomm.
In a notice to stock exchanges Thursday, the company said that its Board of Directors "in its meeting to be held on January 24, 2017, inter alia, shall consider raising of funds through issue of debentures or bonds through private placement.?"
The move comes at a time Airtel is trying to sell stake in its tower infrastructure unit, Bharti Infratel.
The proposed fund raise is widely seen as an attempt to build war chest to compete with disruptive entrant Reliance Jio Infocomm that recently got an infusion of Rs 30,000 crore from its parent company, Reliance Industries to be spent on network expansion.
In a notice to stock exchanges Thursday, the company said that its Board of Directors "in its meeting to be held on January 24, 2017, inter alia, shall consider raising of funds through issue of debentures or bonds through private placement.?"
The move comes at a time Airtel is trying to sell stake in its tower infrastructure unit, Bharti Infratel.
The proposed fund raise is widely seen as an attempt to build war chest to compete with disruptive entrant Reliance Jio Infocomm that recently got an infusion of Rs 30,000 crore from its parent company, Reliance Industries to be spent on network expansion.
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