Bharti Airtel to seek board nod on Dec 4 for raising funds
![With this investment, Singtels total stake (along with its affiliates) in Bharti Telecom will increase to 48.90 per cent. Singtel currently holds 47.17 per cent stake in Bharti Telecom. This will lead to an increase of Singtel economic interest in Bharti Airtel by 0.9 percentage points to 39.5 per cent. (Photo: PTI) With this investment, Singtels total stake (along with its affiliates) in Bharti Telecom will increase to 48.90 per cent. Singtel currently holds 47.17 per cent stake in Bharti Telecom. This will lead to an increase of Singtel economic interest in Bharti Airtel by 0.9 percentage points to 39.5 per cent. (Photo: PTI)](https://s3.ap-southeast-1.amazonaws.com/images.asianage.com/images/aa-Cover-3hg3m9l61j8avq3i1lblper786-20180206054411.Medi.jpeg)
New Delhi: Telecom operator Bharti Airtel on Friday said it board will meet on December 4 to consider raising of funds.
The fund raising proposal follows the Supreme Court judgement on adjusted gross revenue.
"...a meeting of the board of Directors of the Company is scheduled to be held on Wednesday, December 04, 2019 to, inter-alia, consider and evaluate any and all proposals for raising of funds either by issuance of equity shares, and or bonds including foreign currency convertible bonds," the company said in a regulatory filing.
The board will also evaluate raising of funds through debentures, non-convertible debt instruments along with warrants, convertible debentures , securities or any other equity based instruments including through qualified institutions placement or rights issue, or through any other permissible mode, the filing said.
The Supreme Court on October 24, 2019, upheld the government's way of calculating telecom revenue, on which licence fee and spectrum usage charges are computed.
As per the initial calculations, access players like Airtel, Vodafone Idea and other operational telecom operators may have to pay the government a whopping Rs 1.33 lakh crore within three months.