Bharti Airtel Board gives a go-ahead to raise upto Rs 7,500 crore via bonds

Kolkata: Bharti Airtel’s board has approved plans to raise more funds, upto Rs 7,500 crore, via debt to build a war-chest even as India’s second-largest telco needs cash to buy spectrum in the upcoming 4G auction, invest in networks besides pay statutory dues, among other needs.

“The board of the company, in its meeting on February 3, reviewed the company’s routine financing/ re-financing strategies, including any market maturities in due course, and approved raising of funds as and when deemed appropriate, vide issuance of secured/unsecured, listed/ unlisted non-convertible debt securities including debentures, bonds etc upto Rs 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 regulatory/ statutory approval(s),” Bharti Airtel said in an exchange filing Wednesday evening.