Bharti Airtel rallies 3% as Co launches $2 billion QIP for AGR dues

Shares of Bharti Airtel were up 3 per cent to Rs 474 on the BSE on Thursday after the company launched its $2 billion (Rs 14,350 crore) equity issuance to institutional investors. It has fixed floor price of Rs 452.09 for qualified institutional placement (QIP) issue. The stock has rallied 6 per cent in the past two trading days on the QIP buzz.

“The floor price of the equity shares being offered in the issue, and resolved that the Committee may, at its absolute discretion, offer a discount of not more than 5 per cent on the floor price,” Bharti Airtel