BackBharti Airtel board approves raising up to ₹7,500 cr
The board has also authorised the special committee of directors to decide on all matters related to the issuance of securities.
PremiumBharti Airtel Ltd on Tuesday said its board has granted approvals for rasing up to ₹7,500 crore in debt through issuance of unlisted non-convertible debt securities including debentures and bonds in one or more tranches.
The Board has also authorised the special committee of directors to decide on all matters related to the issuance of securities.
"The Board of directors of the company, in its meeting held on Tuesday, February 08, 2022, reviewed company's routine financing/ re-financing strategies including any market maturities in due course, and granted enabling approvals for such re-financing vide debt instruments (as and when deemed appropriate) through issuance of secured/ unsecured, listed/ unlisted non-convertible debt securities including debentures, bonds etc. up to ₹7,500 crore (or in equivalent foreign currency) in one or more tranches from time to time, within the limits of Section 180(1 )(c) of the Companies Act, 2013 and subject to all applicable regulatory/ statutory approvals," Airtel said in a filing.
The Board has also authorised the Special Committee of Directors to decide, basis market conditions, on all matters related to the aforesaid issuance of securities including but not limited to the finalization and approval of the detailed terms and conditions, quantum of tranche(s) and timings of the issuance etc., it further said.
On Tuesday, Bharti Airtel shares closed flat at ₹706.95 apiece on NSE.
The telecom major's profit after tax fell 3% to ₹830 crore as against ₹853 crore reported in the last year period, while revenue from operations surged 13% year-on-year.
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