Bharti Airtel board meet: Telecom major sets up committee for fundraising; key things to know

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Published: December 20, 2018 5:05:34 PM

A committee has been authorised by the company’s board of directors to comprehensively explore or evaluate various fundraising options, Bharti Airtel said in a regulatory filing.

Bharti Airtel on Thursday informed it has set up a special committee for raising funds.

Bharti Airtel on Thursday informed that it has set up a special committee for fundraising plans. A committee has been authorised by the company’s board of directors to comprehensively explore or evaluate various fundraising options, the telecom operator said in a regulatory filing.

“Board of Directors (‘Board’) of the Company at its meeting held today, has formed and authorized ‘Special Committee of Directors for Fund Raising’ to comprehensively explore/evaluate various options of fund-raising for the Company to strengthen its capital structure and balance sheet and place the final recommendation before the Board for its approval/ final decision,” Bharti Airtel said in a regulatory filing.

Also read: ONGC board approves Rs 4,022 crore share buyback; key things to know

In the board meeting held earlier today, Bharti Airtel also informed that it has accepted resignation of Nilanjan Roy, Global CFO & KMP of the company w.e.f February 28, 2019. Badal Bagri has been appointed in his place w.e.f March 1, 2019, the telco also informed.

The shares of Bharti Airtel closed down 6.85 points, or 2.12 per cent, at Rs 315.85 on BSE today.

Meanwhile, equity benchmarks finished with mild losses Thursday amid a broad reversal across global markets following Fed’s rate hike. The BSE Sensex, which had dropped more than 250 points in morning trade, finally finished 52.66 points, or 0.14 per cent, lower at 36,431.67. The broader NSE Nifty slipped 15.60 points, or 0.14 per cent, to 10,951.70.

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