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Airtel raises ₹14,400 cr via QIP at ₹445 per share

Jan 15, 2020 16:57 IST

Bharti Airtel on Wednesday informed exchanges that it has raised ₹14,400 crores (around $2 billion) from qualified institutional buyers at ₹445 per share which is a discount of 1.57% to the floor price of ₹452.09. The amount raised will be used for payment of statutory dues and capital expenditure. The telecom major is battling statutory dues of over ₹35,500 crores after Supreme Court’s judgment on adjusted gross revenue (AGR) in October.

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