iWorld

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

Bharti Airtel

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

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/06/byju.jpg?itok=3bybpZ5Z
BYJU’S acquires ed-tech start-up WhiteHat Jr

KOLKATA: BYJU’S, the leading ed-tech company, has announced that it has acquired Mumbai based ed-tech start-up, WhiteHat Jr.

iWorld eNews
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/06/mix.jpg?itok=LEwaof4j
Discovery Plus celebrates 15 Aug with new episodes of 'Tales of Valour'

Discovery Plus has strengthened its offering in the armed forces-led content by dropping new episodes of Tales of Valour in the month of August.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/06/2.jpg?itok=5Iw_7M6u
Airtel-AWS partner to offer cloud services to M&E firms

It’s hoping to take Indian companies further into the cloud. Telco Bharati Airtel has signed a multi-year, strategic collaborateon agreement with Amazon Web Services (AWS.) to deliver a comprehensive set of innovative cloud solutions to large enterprise and small and medium enterprise (SME)...

iWorld Telecom
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/05/disney.jpg?itok=PzP1Hj3m
Disney+ Hotstar to roll out in Indonesia on 5 September

KOLKATA: In the pursuit of conquering new-age entertainment, The Walt Disney Company has kept a sharp eye on the APAC market and is rolling out Disney+ Hotstar in Indonesia on 5 September. In the last quarter, the media giant launched Disney+ in India via Disney+ Hotstar service. While at the end...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/05/star_1.jpg?itok=Eyxu7xQo
Disney to launch international d2c OTT offering under Star brand in 2021

The Walt Disney Company (Disney) is going more aggressive on streaming. It will launch an international direct-to-consumer general entertainment OTT offering under the Star brand in India in the year 2021.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/04/zee5.jpg?itok=md3Y1MYH
ZEE5, INDIA’S ENTERTAINMENT SUPER-APP, BECOMES 6TH MOST GLOBALLY DOWNLOADED VIDEO STREAMING APP ON GOOGLE PLAY

As a ConTech leader and India’s Entertainment Super-App, ZEE5 has been instrumental in paving the way for digital video entertainment in India through bespoke content and integration of new technologies. The platform has proven to be a consumer favourite, not only in India; but also, globally, as...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/04/hoichoi.jpg?itok=03YNYJbv
hoichoi presents “First Day First Show”, a new property to stream Bengali feature films; SVF produced ‘Detective’ will mark its first Direct-to-Digital release

It is official! Anirban Bhattacharya starrer “Detective” will be heading for a Direct-to-Digital release on hoichoi. hoichoi announced a new property a day before, “First Day First Show” which will helm the direct releases of Bengali movies.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/03/mi.jpg?itok=3EfSdH0L
Microsoft in talks with ByteDance to acquire TikTok in the US

NEW DELHI: Tech giant Microsoft yesterday confirmed that it has held talks with Chinese technology company ByteDance to acquire its social app TikTok in the US. Microsoft said in a statement that it will keep working with the US government on a deal and intends to conclude talks by 15 September....

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/02/xxxuncens.jpg?itok=RpAHfj33
Defence ministry says armed forces-themed movies, shows need its NoC

MUMBAI: Censorship by any external regulatory body is something streamers and viewers in India are averse to. But there is at least in one area where they might have to yield to clipping scissors: how they depict the defence and armed forces in their shows and films. The Indian ministry of defence...

iWorld Over The Top Services

Sign up for our Newsletter

subscribe for latest stories

* indicates required