Bharti Airtel Board To Mull Fund-Raising Plans On August 29; Stock Slides 2%

The money will be raised through a combination of equity, equity-linked instruments or debt instruments, Bharti Airtel said in a regulatory filing to the stock exchanges on Wednesday

Bharti Airtel Board To Mull Fund-Raising Plans On August 29; Stock Slides 2%

At 12:30 am, Bharti Airtel shares were trading lower by 2.9 per cent on the BSE

The board of Bharti Airtel, India's second largest telecom company, will meet on August 29 to consider various fundraising plans. The money will be raised through a combination of equity, equity-linked instruments or debt instruments.

"A meeting of the board of directors of the company is scheduled on Sunday, August 29, 2021, to inter-alia consider various capital raising options through equity or equity linked or debt instruments or any combination there-of," Bharti Airtel said in a regulatory filing to the stock exchanges on Wednesday.

The move by Bharti Airtel to raise funds comes at a crucial juncture as the entire telecom sector is facing financial stress. The Supreme Court recently refused to provide any relief on payment on adjusted gross revenue (AGR) dues.

At 12:30 am, Bharti Airtel shares were trading at Rs 594.70, lower by 2.9 per cent, on the BSE in a subdued market.