Bharti Airtel gets board nod to raise Rs 16,500 cr


MUMBAI: Bharti Airtel’s board of directors has approved a plan to raise about Rs 16,500 crore through debt, including a fresh issue of $1 billion in overseas bonds, to help refinance loans and pay for spectrum. 

The board approved the issue of foreign currency bonds of up to $1 billion (Rs 6,482 crore) and sought fresh shareholder approval for issuance of non-convertible debentures of up to Rs 10,000 crore on a private-placement basis, the company said in a release to the BSE. 

At the meeting, the board also approved the transfer of 19 per cent equity stake in its direct-to-home (DTH) subsidiary Bharti Telemedia, which provides DTH services under the Airtel Digital TV brand, to Nettle Infrastructure Investments, a subsidiary company.

A part of the stake will be utilised for the completion of stake sale in Bharti Telemedia to Warburg Pincus Group. In December 2017, Bharti Airtel had agreed to sell 20 per cent equity stake in Bharti Telemedia to Warburg Pincus for approximately $350 million.

In January, the company had decided to transfer 25 per cent equity shares in Bharti Telemedia to its wholly owned subsidiary Nettle Infrastructure Investments. The company had also said that the stake transfer to Nettle does not include equity to be sold to private equity firm Warburg Pincus.

“Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board in its meeting held on March 12, 2018, has approved the transfer of 19 per cent equity shares of Bharti Telemedia Limited (‘Telemedia’), a subsidiary Company to Nettle Infrastructure Investments Limited, a wholly owned subsidiary company,” the release to the BSE stated.

Also Read:

Recalibrating India’s DTH sector after Airtel DTH-Warburg Pincus deal

TDSAT tells Airtel DTH, Star to negotiate

Airtel Digital TV disconnects Star India channels

Latest Reads

TVF’s ImMature first Indian show to reach Canneseries

Digital series producer The Viral Fever (TVF) has literally gone viral. In a historic win, TVF’s show ImMature is getting its first ever screening at Canneseries - the Cannes International Series Festival. ImMature will be screened on 11 April 2018 at Canneseries.

iWorld Over The Top Services
Amazon's content spend at $5 bn a year, confirms report

MUMBAI: Amazon is bucking up by opening its treasure trove for content. A recent Reuters report says that leaked documents show the company spends $5 billion a year for original and licensed content, which is a big chunk of the company’s expenditure. Amazon has tough competition because Apple...

iWorld Over The Top Services
SonyLIV banked on Akamai to leverage ad insertion for India-SA series

SonyLIV, which provides multi-screen engagement to users on all devices, leveraged Akamai's dynamic ad-insertion capabilities during the India-South Africa cricket series held over January and February 2018.

iWorld Over The Top Services
India’s biggest photography reality show - 'Kanan Devan Photography Escapade 3'

India’s biggest photography reality show - ‘Kanan Devan Photography Escapade 3’ was launched today by Tata Tea Kanan Devan, a heritage tea brand from the house of Tata Global Beverages. After two immensely successful editions of this photography contest that is aimed at budding photographers, the...

iWorld Over The Top Services
Amazon Prime Video secure exclusive rights to new series of american idol in UK for first time

American Idol, the iconic series that revolutionized the US television landscape by pioneering the music competition genre, goes global as FremantleMedia International completes deals for the new series in 150 territories.

iWorld Over The Top Services
Hotstar Trends 2017: Women, small town, cross-language consumption rises

MUMBAI: Want to get a handle on what kind of traction that India’s answer to Amazon and Netflix - Hotstar from Star India – is getting? Well, the OTT service has come out with an India Watch Report 2018 (IWR 2018) – just as the IPL is around the corner in a bid to pique brands’ and ad agencies'...

iWorld Over The Top Services
SonyLIV doubles MAUs to 15.6mn in Feb: App Annie report

SonyLIV continued to reign the online pie by grabbing more eyeballs in the month of February. It added 7.9 million monthly active users (MAUs) in its kitty. The platform has doubled its base within a month from 7.7 million MAUs to 15.6 million MAUs and has stomped to the third position from fifth...

iWorld Over The Top Services
It’s raining awards for ALTBalaji this 2018!

ALTBalaji which is India’s largest OTT platform for original and exclusive shows across various genres is on a winning splurge these days with awards and recognition in the digital and OTT space. 2018 has started on a high note for the digital platform as it was awarded as one of MUMBAI’S HOT 50...

iWorld Over The Top Services
Firstpost announces lauch of its web-series '9 months' - season2

Firstpost, India’s largest and premier platform for digital news analysis and opinions, has been the front-runner in developing and curating innovative content for its audience. It is all set to premiere Nine Months on March 14, 2018. Azim Lalani, Business Head, Firstpost said –“Following the...

iWorld Over The Top Services

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories