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Bharti Airtel gets shareholders nod to raise up to $3bn in equity, debt

Last month, Bharti Airtel had said it would seek shareholders' approval at an EGM on January 3 for raising up to $ 2 billion through QIP

Bharti Airtel | Bharti Airtel board | shareholder

Press Trust of India  |  New Delhi 

SoftBank already has a close relation with the Mittals,  the founders of Bharti
Bharti Airtel billboard

Shareholders of have approved proposals to raise up to $ 2 billion in equity and another $ 1 billion in debt.

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

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, had said it would seek shareholders' approval at an EGM on January 3 for raising up to $ 2 billion through qualified institutional placement, public issue, preferential shares or private placement.

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

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First Published: Sat, January 04 2020. 17:45 IST