Bharti Airtel launches $2 billion QIP – qualified institutions placement

Telecom major Bharti Airtel on Wednesday said it has opened qualified institutions placement process to raise USD 2 billion and has launched FCCBs worth up to USD 1 billion. For the QIP issue, the special committee of directors has fixed a floor price of Rs 452.09 per share.

“…the Special Committee of Directors for Fund Raising of the company has, at its meeting held on January 8, 2020 approved issue of equity shares on a QIP (basis)…” the company said in a BSE filing.
It added that the floor price of Rs 452.09 per equity share in respect of the issue is based on the pricing formula as per Sebi rules.