Bharti Telecom seeks to buy balance stake in Singtel
By MYBRANDBOOK
Bharti Telecom (BTL), a key promoter company of Bharti Airtel, plans to raise up to Rs 6,000 crore of debt via non-convertible debentures (NCDs) to buy the balance portion of the 3.33% stake that Singapore Telecommunications (Singtel) will sell in the Indian telco.
The proposed rupee-linked NCDs are likely to be subscribed primarily by top foreign portfolio investors (FPIs). Some local institutional investors are also expected to participate. BNP Paribas, HSBC, Japan’s MUFG and Standard Chartered Bank among others are likely helping BTL to raise the money via rupee-linked NCDs.
Last week, Singtel sold 1.76% in Airtel through block deals for a little over Rs 7,100 crore. Around 1.62% of the stake was acquired by BTL for Rs 6,604 crore, while the balance (0.14%) was acquired by public shareholders in Airtel. BTL is now raising fresh debt to part-finance the remaining 1.57% stake buy from Singtel.
Bharti Group has to raise debt to fund the Singtel stake purchase as the southeast Asian carrier recently ruled out any fresh equity infusion in BTL. The Mittals of Bharti Enterprises and Singtel own 50.56% and 49.44%, respectively, in BTL, which in turn, owns a shade over 37% in Bharti Airtel.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
Alcatel-Lucent Enterprise Carrying a 100 year legacy ahead
A good amount of R&D works and global support services are operated out of
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
BEETEL TELETECH LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
LENOVO INDIA PVT. LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
SHAKTIKANTA DAS
Shaktikanta Das is serving as the current & 25th governor of the Reser...
ICONS OF INDIA : RAMESH NATRAJAN
Ramesh Natarajan, CEO of Redington Limited, on overcoming ‘technolog...
Icons Of India : Arundhati Bhattacharya
Arundhati Bhattacharya serves as the Chairperson and CEO of Salesforce...
PARTNER SPEAKERS
PSU
ITI - ITI Limited
ITI Limited is a leading provider of telecommunications equipment, sol...
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
Indian Tech Talent Excelling The Tech World - ANJALI SUD, CEO – Tubi
Anjali Sud, the former CEO of Vimeo, now leads Tubi, Fox Corporation...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
