Bharti Airtel to raise Rs 30 billion via issue of debentures

Bharti Airtel has decided to raise about Rs 30 billion through the issue of listed, unsecured, rated, redeemable, non-convertible debentures through private placement. According to the company, the funds will be utilised to finance the operator’s capex plans aimed at bolstering 4G networks. Over the past year, Bharti Airtel has consistently divested stake in its tower arm, Bharti Infratel, in order to reduce debt and aggregate funds. It has raised nearly Rs 120.89 billion through multiple stake sales in Bharti Infratel. Further, the operator recently indicated its interest in selling a larger stake in Bharti Infratel. At present, Bharti Airtel holds a 53.51 per cent stake in the tower arm.