Bharti Airtel’s Committee of Directors for Fund Raising approves equity allotment

Bharti Airtel has approved the allotment of equity worth $5.1 million to holders of its foreign debt bonds issued in January 2020 at ₹521 a share.

“This is in reference to the USD 1,000 million 1.50% Convertible Bonds due 2025 (ISIN USY0889VAA80) issued by the Company vide Offering Circular dated January 14, 2020, convertible into Company’s fully-paid up equity shares of INR 5/- each at any time on or after February 27, 2020 and upto the close of business hours on February 07, 2025, at the option of the FCCB holders.

We wish to submit that upon receipt of notice for conversion of FCCBs of principle value of USD 5,108,000 from certain holders of FCCBs, the Special Committee of Directors for Fund Raising has, today i.e. on April 04, 2023, approved the allotment of 706,161 fully paid-up equity shares of face value INR 5/- each at a conversion price of INR 521/- per equity share to such holders of FCCBs.

Consequent to the above:

• Paid-up equity share capital of the Company stands increased to INR 28,369,563,632.50 divided into 5,575,840,811 fully paid-up equity shares of INR 5/- each and 392,287,662 partly paid-up equity shares of INR 5/- each (paid-up value INR 1.25/- each); and
• Outstanding principal value of FCCBs, as listed at Singapore Exchange Limited, stands reduced to USD 908.59 million,” said the BSE exchange filing.

CT Bureau