Airtel Board To Decide On Fund Raising Via Preferential Route On Friday
The plan comes ahead of proposed 5G spectrum auction and is the second such exercise in three months. Last October the firm raised about Rs 21,000 cr via a rights issue
Topics
Airtel | Fundraising | rights issue
The board of Bharti Airtel will meet on Friday to evaluate a fund raising proposal, the company informed the stock exchange on Monday.
The fundraising plan comes ahead of the proposed 5G spectrum auction and is the second such exercise in three months. Last October the company raised around Rs 21,000 crore through a rights issue and has already garnered over Rs 5,200 crore from the first round of payment.
The board meeting will consider and evaluate the proposal for issuance of equity shares through preferential issue (other than to promoters/promoter group), it said in the notification.
Earlier this month, Bharti Airtel decided not to pursue its corporate restructuring exercise that could have led to merger of all digital assets into the listed entity and demerger of core telecom business into a separate subsidiary.
Airtel had cited improved investment outlook and simplified licence framework as reasons behind its decision of not pursuing corporate restructuring. Industry sources said regulatory headwinds have eased for telecom companies after the reforms package announced last October. It changed the definition of adjusted gross revenue (AGR), rationalised bank guarantees and provided additional moratorium for dues.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Mon, January 24 2022. 19:40 IST
The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Transforming Financial Operations With Robotic Process Automation
Author: Ricardo Goulart ... Read more
The Role Of Machine Learning In Fraud Detection
Author: Gerardine Lucero  ... Read more
Principles Of Islamic Banking And Finance
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more