Bharti Airtel’s promoter firm Bharti Telecom plans to raise $1 billion through equity sale to become debt free. The promoter firm Bharti Telecom plans to dilute 2.75% stake with floor price of Rs 558 per share through secondary placement.
Bharti Telecom has roped in JP Morgan for the raising $1 billion by selling 150 million equity shares at a price of Rs 558 per cent per unit. The $1 billion raise will make the promoter of Bharti Airtel debt free.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.