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Top fund houses invest ₹1,380 cr in Bharti Telecom bonds
Top Indian mutual fund houses like HDFC MF, Kotak Mutual Fund, Nippon India Mutual Fund, and Aditya Birla Sun Life MF, including a general insurance company have reportedly invested bonds worth Rs 1,380 crore raised by the parent company of telecom major Bharti Airtel, Bharti Telecom, in October 2021.
Additionally, other leading mutual fund houses like Axis MF, ICICI Prudential MF, Reliance General Insurance, and PNB Gilts have also invested in the bonds worth Rs 21,000 rights issue of the telecom major Bharti Airtel, stated sources privy of the matter.
As per a recent report, these mutual fund houses invested in Bharti Telecom’s bonds through many growth and income schemes.
Kotak Mutual Funds and Aditya Birla Sun Life MF were found to have invested the most in the telecom giant, in the range of Rs 300 crore each. Nippon Life MF was found to have invested Rs 245 crore, while HDFC Short Term Debt Fund and Axis Mutual Funds both invested Rs 150 crore each, followed by ICICI Prudential MF investing Rs 100 crore.
Additionally, fund houses PNB Gilts invested in bonds worth Rs 85 crore, while Reliance General Insurance invested Rs 50 crore. Furthermore, Bharti Telecom raised three series of unsecured non-convertible debentures worth Rs 460 crore each on October 20. Investing.com
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