Airtel’s special committee to meet on Jan 14 for determining issue price of fundraising offers

Telecom major Bharti Airtel on Thursday said its special committee will meet on January 14 to determine the issue price of its USD 2-billion qualified institutional placement (QIP). The committee will also discuss the issue price and other terms of the up to USD 1 billion FCCBs offer.

Bharti Airtel, in a regulatory filing to stock exchanges, said a meeting of the Special Committee of Directors for Fund Raising of the company is proposed to be held on January 14, 2020.

The committee will meet to consider and determine the issue price of the equity shares (including any discount on the floor price), and the issue price and other terms of the FCCBs, it added. According to banking sources, the QIP, which opened on Wednesday, has been oversubscribed with participation from marquee fund houses.