Bharti Airtel board to mull fundraise via preferential issue

25 Jan 2022 , 09:18 AM

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).

The proposal is subject to all such regulatory/ statutory approvals as may be required including the approval of shareholders of the company.

Bharti Airtel is a global communications solutions provider with over 480 Mn customers in 17 countries across South Asia and Africa. Airtel is Indias largest integrated communications solutions provider and the second largest mobile operator in Africa.

On a consolidated basis, Bharti Airtel posted a net profit of Rs 1,134 crore in Q2 FY22 as against a net loss of Rs 763.2 crore in Q2 FY21. It posted quarterly revenues of Rs 28,326 crore, rising 13% YoY on a reported basis.

Shares of Bharti Airtel were up 1.04% at Rs 696.75.

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