The board of Bharti Airtel to consider and approve the proposal for issuance of equity shares through preferential issue (other than to promoter / promoter group). Bharti Airtel is a global communications solutions provider with over 480 Million customers in 17 countries across South Asia and Africa. Airtel is India’s largest integrated communications solutions provider and the second largest mobile operator in Africa.
The move, analysts say, could be to accommodate a “global strategic investor”, which would strengthen the telco’s financials ahead of a 5G spectrum auction mid-year and expected top dollar investments in the roll out of the next generation technology.
“A meeting of the board of directors of the company is scheduled to be held on Friday, January 28, 2022, to, inter-alia, consider and evaluate the proposal for issuance of equity shares through preferential issue (other than to promoter/promoter group), subject to all such regulatory/statutory approvals as may be required, including the approval of shareholders of the company,” Bharti Airtel said in an exchange filing on Monday.
Airtel board to meet on Jan 28 to talk preference share issue
