Telecom giant Bharti Airtel is set to meet on February 03 with plans afoot to raise capital through routine financing and re-financing strategies. The board of directors of Bharti Airtel will take a call on the same the very same day Bharti Airtel will announce its results for the quarter ending December 31, 2020.
The company will also consider consequent raising of capital through various instruments like debentures, bonds, loans etc through Indian rupees or in foreign currency. The capital will be of suitable tenor and characteristics subject to applicable regulatory and statutory approvals.
“Further to our intimation dated January 20, 2021 and pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors, in its meeting scheduled on Wednesday, February 03, 2021, shall also consider routine financing/ re-financing strategies and any consequent raising of capital through various instruments including debentures, bonds, loans etc. either denominated in Indian rupees or in foreign currency and of suitable tenor and characteristics, subject to applicable regulatory/ statutory approval(s),” said Bharti Airtel in a regulatory filing with BSE.
The plans to raise capital comes just ahead of the Spectrum Auction 2021 which is to be held next month. The company recently demonstrated its capability to launch 5G services over a commercial network in the 1800 MHz band through NSA network technology. DoT recently has allowed telecom service providers to deploy spectrum for new technology with only 6 months prior information along with an increase in 900 MHz and 1800 MHz band spectrum put to the auction which may result in Bharti Airtel bidding for extra airwaves.