Bharti Airtel to raise over Rs 21,000 crore

The proposal for issuance of securities for amount up to USD 2 billion received 99.99 per cent votes in favour of the special resolution at the company's extraordinary general meeting held on January 3, a regulatory filing showed.

New Delhi:Shareholders of Bharti Airtel have approved proposals to raise up to USD 2 billion ( Rs 14,352 crore approx) in equity and another USD 1 billion (7,176 crores approx) in debt.

The proposal for issuance of securities for amount up to USD 2 billion received 99.99 per cent votes in favour of the special resolution at the company's extraordinary general meeting held on January 3, a regulatory filing showed.

Previously on December 4, 2019, Bharti Airtel Board had given the go-ahead to raise up to USD 3 billion (Rs 21,500 crore approx) and has also approved raising an additional USD 1 billion, an official said.

The second special resolution was for 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 extraordinary general meeting on January 3 for raising up to USD 2 billion through qualified institutional placement, public issue, preferential shares or private placement.

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