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Bharti Airtel gains as its board approves raising of funds worth Rs 7,500 crore

Bharti Airtel is currently trading at Rs. 612.50, up by 3.70 points or 0.61% from its previous closing of Rs. 608.80 on the BSE.

The scrip opened at Rs. 618.30 and has touched a high and low of Rs. 623.00 and Rs. 608.10 respectively. So far 832815 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 623.00 on 04-Feb-2021 and a 52 week low of Rs. 381.05 on 19-Mar-2020.

Last one week high and low of the scrip stood at Rs. 623.00 and Rs. 549.55 respectively. The current market cap of the company is Rs. 332134.33 crore.

The promoters holding in the company stood at 56.23%, while Institutions and Non-Institutions held 39.53% and 4.24% respectively.

Bharti Airtel’s board has approved raising of funds as and when deemed appropriate, vide issuance of secured/ unsecured, listed/ unlisted non-convertible debt securities including debentures, bonds etc. upto Rs 7,500 crore (or in equivalent foreign currency).

The board also authorised the Special Committee of Directors to decide, basis market conditions, on all matters related to the aforesaid issuance of securities including but not limited to the finalisation and approval of the detailed terms and conditions, quantum of tranche(s) and timings of the issue etc. The Board of Directors of the company, in its meeting held on February 03, 2021 has approved the same.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.

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