Airtel allocates equity worth Rs 71 crore to foreign debt bond holders


PTI, Dec 10, 2022, 11:22 AM IST

Image Source: https://www.airtel.in/

Bharti Airtel on Friday said it has approved the allotment of equity worth USD 8.6 million, about Rs 71 crore, to those holding its foreign debt bonds issued in January 2020.

The company had issued USD 1-billion 1.5 per cent foreign currency convertible bonds (FCCBs) that are due for 2025.

”We wish to submit that upon receipt of notice for conversion of FCCBs of principle value of USD 8,600,000 from certain holders of FCCBs, the Special Committee of Directors for Fund Raising has…on December 09, 2022, approved the allotment of 1,188,917 fully paid-up equity shares of face value Rs 5 each at a conversion price of Rs 521 per equity share to such holders of FCCBs,” Bharti Airtel said in a regulatory filing.

With this allotment, the company said that the outstanding principal value of FCCBs, as listed at Singapore Exchange Limited, stands reduced to USD 991.20 million.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Coast Guard rescues stranded Indian fishing boat with 11 crew members off Kerala coast

‘World is on fire’ because of Biden, says Trump’s aide

How can government issue contracts for solid waste management without landfills? asks DKShi

Two soldiers injured in gunfight with terrorists in J & K’s Doda

Heavy rains: Holiday for schools, PU colleges in Byndoor and Hebri

Fake Holiday Order: Dakshina Kannada DC instructs officials to file FIR

Valmiki Corp. funds used to purchase liquor before general elections: ED

Related Articles More

IMF forecasts Indian growth rate at seven per cent in 2024

Scindia brainstorms with Ambani, Mittal, others to chart telecom growth roadmap

Byju’s faces insolvency proceedings for failure to pay Rs 158.9 cr to BCCI

Sensex, Nifty close at record high levels for third day in a row

Windfall tax on crude petroleum hiked to Rs 7,000/tonne

MUST WATCH

Tapta Mudra Dharana

Banana Farming

Aghnashini River

Dr. Rajkumar

Poisoning – Prevention


Latest Additions

Mumbai receives heavy showers, residents complain of waterlogging

Rain havoc in Chikmagalur: House collapses, caught on cam

Flood Alert: Netravati river submerges agricultural fields

Adityanath suggests greeting ‘kanwariyas’ with shikanji, drone deployment to monitor Yatra

Amid Kannadiga reservation concerns in Karnataka, Andhra IT Minister invites companies to state

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.