Bharti Airtel forms panel for fundraising to strengthen capital structure

Market estimates it to raise close to Rs 150 bn as the firm seeks to reduce debt, boost cash flows, meet capex

Bharti Airtel on Thursday said it formed a specialised committee of directors to explore options for fundraising to strengthen its capital structure and balance sheet.  In its board meeting held on Thursday, Airtel's Board formed and authorised a special committee of directors for fundraising, the company said in a notification to the exchanges. 

The market was abuzz about Airtel's fundraising plans (estimated to be close to Rs 150 billion or more) as the telco sought to reduce debt, boost cash flows and meet capital expenditure. 

Last month, Airtel's rival Vodafone Idea (VIL) said it intended to raise Rs 250 billion