Bharti Airtel issues shares worth Rs 246 crore to foreign debt bond holders
Following allotment of equity against the foreign currency convertible bond (FCCB) the outstanding principal value of FCCBs at Singapore Exchange has reduced to $204.690 million. A signage of Bharti Airtel in Mumbai.Photographer: Dhiraj Singh/Bloomberg
Bharti Airtel has allotted equity shares worth about Rs 246 crore to its foreign debt bond holders that are due for maturity in February 2025, according to a regulatory filing.
The company had issued $1,000 million 1.50 per cent convertible bonds due 2025 in January 2020 that were convertible into company’s fully-paid up equity shares.
“We wish to submit that upon receipt of notices for conversion of FCCBs of principal value of USD 34,281,000 from certain FCCBs holder(s), the Special Committee of Directors for Fund Raising has, today i.e. on April 29, 2024, approved the allotment of 4,766,663 fully paid-up equity shares of face value Rs 5 each at a conversion price of Rs 518 per equity share to such holder(s) of FCCBs,” Airtel said in the regulatory filing.
Following allotment of equity against the foreign currency convertible bond (FCCB) the outstanding principal value of FCCBs at Singapore Exchange has reduced to $204.690 million.
“Paid-up equity share capital of the company stands increased to Rs 28,858,453,702.50 divided into 5,673,618,825 fully paid-up equity shares of Rs 5 each and 392,287,662 partly paid-up equity shares of Rs 5 each, paid-up value Rs 1.25 each,” the filing said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Apr 29 2024 | 10:36 PM IST