Network i2i Ltd, a Mauritius-based wholly-owned subsidiary of the company through joint book runners and joint lead managers has approached investors for the proposed additional issuance, the company said in a regulatory filing.
Bharti Airtel on February 12, said its wholly-owned subsidiary Network i2i plans to raise funds worth up to $250 million (approximately Rs 1,780 crore) through perpetual bonds. This amount will be in addition to existing securities of $750 million (around Rs 5,343 crore) that the company has raised recently.
Network i2i Ltd, a Mauritius-based wholly-owned subsidiary of the company through joint book runners and joint lead managers has approached investors for the proposed additional issuance, the company said in a regulatory filing.
The company said the "proposed issuance of dollar denominated fixed rate, unsecured, guaranteed perpetual securities by subsidiary company" pegged the issue size at $250 million, in addition to existing securities of $750 million.
The company had earlier said that the proceeds from the issue will be utilised for pruning debt of Bharti Airtel.
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