Friday, 24 March, 2023

Bharti Telecom will issue NCDs worth up to Rs 6,000 Cr

<p>Bharti Telecom plans to issue non-convertible debentures to generate up to Rs 6,000 Cr in debt in order to purchase the remaining 3.33% stake that Singtel will sell in the Indian telecom. Top FPIs and a few domestic institutional investors are likely to make up the majority of those who subscribe for the planned rupee-linked NCDs. Through block deals, Singtel last week sold 1.76% of Airtel for well over Rs 7,100 Cr.</p>