Bharti Airtel gets shareholders nod to raise up to $3bn in equity, debt

PTI, Jan 5, 2020, 9:46 AM IST

New Delhi: Shareholders of Bharti Airtel have approved proposals to raise up to $2 billion in equity and another $1 billion in debt.

The proposal for issuance of securities for an amount up to $2 billion received 99.99 per cent votes in favour of the special resolution at the company’s EGM held on January 3, a regulatory filing showed.

The second special resolution was for the issue of foreign currency convertible bonds and unsecured/secured redeemable non-convertible debentures along with or without warrants.

This also received 99.99 per cent votes in favour of the proposal.

Last month, Bharti Airtel had said it would seek shareholders’ approval at an EGM on January 3 for raising up to $ 2 billion through qualified institutional placement, public issue, preferential shares or private placement.

An additional $1 billion was sought to be raised through foreign currency convertible bonds (FCCB) or debentures, the company had said in its EGM notice.