Bharti Airtel has reportedly prepaid over Rs 22,000 crore of rupee-denominated domestic loans to multiple banks using a majority of the carrier’s Rs 25,000 crore rights issue proceeds.
The company has prepaid about Rs 6,000 crore to Axis Bank and cleared additional loans up to Rs 16,000 crore to other banks including State Bank of India (SBI), ICICI Bank and HDFC Bank. These loans were taken by the company to finance working capital needs.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
