Bharti Airtel board meet on 14 Jan to decide issue price for QIP, FCCB

Bharti Airtel’s board will meet on 14 January to determine the price of the equity shares to be issued under qualified institutional placement (QIP) and the price for issue of foreign currency convertible bonds (FCCBs)

The company had on Wednesday launched a QIP worth $2 billion at an indicative issue floor price of ₹452 per share, as well as a separate fundraise exercise through issue of FCCBs of up to $1 billion.

The operator, hit by a court verdict that has mandated it to pay dues of ₹35,586 crore to the department of telecommunications (DoT) by 24 January, will use a chunk of the proceeds to meet this liability.