Telecom operator Bharti Airtel on Wednesday said its board will meet on August 29 to consider various capital raising options, including equity and debt.
Telecom operator Bharti Airtel on Wednesday said its board will meet on August 29 to consider various capital raising options, including equity and debt.
The fundraising options entail equity or equity-linked or debt instruments, the company said in a regulatory filing but did not divulge into the quantum of capital raising under consideration.
The latest move is expected to give more firepower to Airtel, as the company takes on rivals in the fiercely competitive Indian telecom market that is now gearing up for 5G.
"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 thereof, as the board may deem appropriate," Bharti Airtel said in a BSE filing.
As per subscriber data released by telecom regulator recently, Bharti Airtel added 38.1 lakh, wireless subscribers, in June, pushing up its mobile user base to 35.2 crores.
Reliance Jio cemented its lead, gaining 54.6 lakh users in June, as its mobile subscriber base swelled to 43.6 crores during the month.
Troubled Vodafone Idea continued to lose mobile subscribers in June, ceding fresh ground to rivals Reliance Jio and Bharti Airtel. Vodafone Idea lost about 42.8 lakh subscribers during June, and its user base shrunk to 27.3 crores, compounding the woes of the debt-laden telco that is struggling to stay afloat.
Amid the existential issues being faced by Vodafone Idea Ltd (VIL), industry analysts have sounded an alarm over the risks of the Indian telecom market turning into a duopoly.
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