Airtel promoter arm to raise Rs 1,380 crore, to participate in the rights issue

Mumbai | Kolkata: Bharti Telecom (BTL), a holding company of Bharti Airtel’s promoters, is raising around Rs 1,400 crore via corporate bonds in the local money markets to help it mainly participate in the telco’s ongoing Rs 21,000 crore rights issue, and also refinance some high cost debt, two people aware of the matter told ET.

The bonds were up for bidding on Monday on the exchange platform. Barclays is the solo bidder/investor in those papers, market sources said.