Bharti Airtel's fundraise garners $10 billion, three times its target

Bharti Airtel on Thursday received offers for subscriptions aggregating over $10 billion, three times its target of $3 billion, through a combination of qualified institutional placement (QIP) and foreign currency convertible bonds (FCCB), according to banking sources.

The issue opened Wednesday and has already been oversubscribed and according to banking sources the allocation of the shares will be made next week.  

According to sources, Fidelity, Blackrock, Goldman Sachs, BNP Paribas, Citigroup, Warburg Pincus, J P Morgan, Axis Capital, ICICI Pru, SBI Mutual, Aditya Birla Mutual HFDC Mutual and Temasek Holdings among others have offered to subscribe to the QIP.  

For the