Bharti Telecom raises Rs 8,433 crores

NEW DELHI: Bharti Telecom Limited (BTL), the promoter company of Bharti Airtel, has raised Rs 8,433 crore ($1.15 billion) by selling a 2.75% stake in the telecom operator to a clutch of overseas investors such as Blackrock, Fidelity, Segantii Capital, Norges Bank and Key Square Capital, and local fund houses including HDFC Mutual Fund and SBI Mutual Fund.

“On the back of such a strong demand from international and domestic investors, the amount raised was increased to around $1.15 billion (compared with $1 billion initially planned),” Harjeet Kohli, group director, Bharti Enterprises, said in a statement on Tuesday.

Other overseas buyers include Jane Street and Marshall Wace, and local fund houses such as Birla Mutual Fund and Axis Mutual Fund, said a person aware of the matter.