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Bharti Airtel inches up on raising $1.25 billion through debt instruments

Bharti Airtel is currently trading at Rs. 581.15, up by 2.00 points or 0.35% from its previous closing of Rs. 579.15 on the BSE.

The scrip opened at Rs. 574.85 and has touched a high and low of Rs. 585.25 and Rs. 572.65 respectively. So far 18688 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. 585.25 and Rs. 563.00 respectively. The current market cap of the company is Rs. 315958.60 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 has raised $1.25 billion through issuance of debt instruments. The debt fund raising by the company comes just before the start of spectrum auction valued at Rs 3.92 lakh crore. This is the first ever dual-tranche US dollar bond issued by the company spread across senior and perpetual issuance. This is the largest issuance by any Indian Investment Grade issuer since January 2019. The order book was over-subscribed about 3 times on final pricing with peak order book of $5 billion at time for final price guidance. The company has priced $750 million of senior 10.25 year bonds at a yield of US 10 Year treasury 187.5bps for an implied coupon of 3.25 per cent.

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

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