Airtel board to mull fund raising plans, financing strategies on February 3

By: |
February 2, 2021 5:20 PM

Airtel had emphasised that the actual impact of the 5G experience will be available to customers "when the adequate spectrum is available, and government approvals are received."

Bharti AirtelGopal Vittal, MD and CEO (India & South Asia), Bharti Airtel said, the company now has a "solid spectrum portfoliothat will enable it to continue delivering the best mobile broadband experience in India".

Bharti Airtel’s board, slated to meet on Wednesday, will consider financing strategies and fundraising plans via instruments like debentures, bonds, and loans, as the telecom sector gears up for spectrum auctions and roll-out of new-age technologies.

The telco is also scheduled to announce its third-quarter results on Wednesday.

“…Board of Directors, in its meeting scheduled on Wednesday, February 03, 2021, shall also consider routine financing/ refinancing strategies and any consequent raising of capital through various instruments, including debentures, bonds, loans etc. either denominated in Indian rupees or foreign currency and of suitable tenor and characteristics, subject to applicable regulatory/ statutory approvals,” the company had said in a recent filing.

Last week, Bharti Airtel announced that its network is 5G ready now as the company successfully demonstrated live fifth-generation service — with ultra-high speeds — over a commercial network in Hyderabad city. The move assumes significance as telecom operators are preparing to leverage 5G as the next frontier for future growth to bolster revenue streams and provide a stronger customer experience.

Airtel had emphasised that the actual impact of the 5G experience will be available to customers “when the adequate spectrum is available, and government approvals are received.”

Airtel’s fundraising plan comes when the government has set the ball rolling for the spectrum auction, in which radio waves valued at Rs 3.92 lakh crore will be put on the block. The auction in seven spectrum bands for mobile services – 700, 800, 900, 1800, 2100, 2300 and 2500MHz bands – is scheduled to start from March 1.

Experts tracking the sector have forecast “limited participation,” though. Some believe that spectrum auction in India has turned into a buyer’s market and may see “minimal competition” with operators going after airwaves that yield the best value for money instead of focusing on renewing all expiring spectrum

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Calcutta High Court dismisses pleas against MP Birla Group chairman Lodha
2Vedanta seeks to open Sterlite’s oxygen unit to boost supply
3Nashik-based York Winery to merge with Sula Vineyards