Bharti Airtel To Raise Up To $3 Billion Via Debt, Equity

Airtel said it will raise $2 billion via qualified institutional placement and $1 billion via bonds and debentures.

Bharti Airtel To Raise Up To $3 Billion Via Debt, Equity

Airtel reported a consolidated net loss of Rs 23,045 crore for the September quarter.

Bharti Airtel Ltd said on Wednesday it would raise up to $3 billion via debt and equity, after a recent court ruling asked telecom companies to pay $13 billion in dues to the government.

Last month, Airtel and industry peer Vodafone Idea Ltd warned that their ability to operate and make profits would depend on relief from the country after Supreme Court upheld a demand by the telecoms department that wireless carriers pay overdue levies and interest.

Airtel reported a consolidated net loss of Rs 23,045 crore for the September quarter after it made a provision for dues it owed to the government.

Airtel said it will raise $2 billion via qualified institutional placement and $1 billion via bonds and debentures.

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