Bharti Airtel shares rise 2% as board mulls fund raising

Bharti Airtel shares rose over 2 per cent in early trade on Thursday, ahead of a board meeting later today to finalise its ambitious fundraising plans as the second-largest telco aims to create a war chest to contain debt and meet capex needs for bolstering its 4G networks to fight Reliance Jio Infocomm.

Shares of India’s second largest telco were trading 2 per cent higher at Rs 326.45 on BSE.

“A meeting of the board of directors of the company is scheduled on February 28, to inter alia, consider recommendations of a special committee of directors for fund raising,” the Sunil Mittal—led telco said in a regulatory filing on BSE last Monday.