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Airtel board sets up committee to explore options for raising funds

According to reports, the company has plans to raise around $2 billion

Press Trust of India  |  New Delhi 

airtel, bharti airtel, airtel payments bank

operator board on Thursday constituted a committee to explore options for raising funds to strengthen company's

According to reports, the company has plans to raise around $2 billion.

"The company at its meeting held today has formed and authorised 'special committee of directors for fund raising' to comprehensively explore/evaluate various options of fund raising for the company to strengthen its capital structure and balance sheet," said in an exchange filing.

The company, however, did not quote the amount it plans to raise.

The committee will have to place the final recommendation before the board for its approval and final decision, it added.

had recently raised $1.25 billion from six -- Warburg Pincus, Temasek, Singtel, SoftBank Group and others through a primary equity issuance in Airtel Africa.

The major used the fund to reduce Airtel Africa's existing debt of approximately $5 billion.

The consolidated debt of Bharti Airtel stood at around $16 billion at the end of July-September 2018 period.

First Published: Thu, December 20 2018. 17:45 IST
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