Airtel to consider options for raising capital on Aug 29 board meeting

Amid rising input costs, telecom major Bharti Airtel plans to consider options including that of raising capital, through equity and debt instruments during the company board meeting scheduled to be held on Sunday.

The company in a regulatory filing on Wednesday, said: “A meeting of the Board of Directors of the Company is scheduled on Sunday, August 29, 2021, to inter-alia consider various capital raising options through equity or equity-linked or debt instruments or any combination there-of, as the Board may deem appropriate.”

The company had, in February, raised $1.25 billion through various debt instruments. For the April-June quarter, the telco reported a net profit of Rs 284 crore, against a loss of Rs 15,933 crore in the corresponding quarter last fiscal.

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That company saw quarterly revenue of Rs 26,854 crore during the quarter under review, up 21.2 per cent YoY. On Wednesday, shares of Bharti Airtel on the BSE closed at Rs 612.45 crore, lower by Rs 7.40 or 1.19% from its previous close.