Bharti Airtel – a well-known Telecom company finally get a green signal from the board to raise up to INR 16,500 Cr. for paying for spectrum liabilities and refinancing debt. The company approved Issuance of Non-Convertible Debentures of up to INR 10,000 cr. on the private placement basis and the NCDs of around INR 10,000 cr. can be raised in the tranches.
This is really good news for investors as there may be a change of increasing the value of stocks. Now, Bharti Airtel will approach the shareholders for final approval of this proposed raising of the debt.
FYI, The consolidated net debt of company stood at INR 91,714 cr. on 31st December 2017 which is higher than INR 91,480 cr. in the last quarter.