Bharti Airtel Issues Shares Worth Rs 246 cr to FCCB Holders
By Rediff Money Desk, NEWDELHI Apr 29, 2024 22:15
Bharti Airtel has allotted equity shares worth Rs 246 crore to its foreign debt bond holders maturing in February 2025, according to a regulatory filing.
![Bharti Airtel Issues Shares Worth Rs 246 cr to FCCB Holders](https://im.rediff.com/money/2019/nov/28airtel.jpg)
New Delhi, Apr 29 (PTI) Bharti Airtel has allotted equity shares worth about Rs 246 crore to its foreign debt bond holders that are due for maturity in February 2025, according to a regulatory filing.
The company had issued USD 1,000 million 1.50 per cent convertible bonds due 2025 in January 2020 that were convertible into company's fully-paid up equity shares.
"We wish to submit that upon receipt of notices for conversion of FCCBs of principal value of USD 34,281,000 from certain FCCBs holder(s), the Special Committee of Directors for Fund Raising has, today i.e. on April 29, 2024, approved the allotment of 4,766,663 fully paid-up equity shares of face value Rs 5 each at a conversion price of Rs 518 per equity share to such holder(s) of FCCBs," Airtel said in the regulatory filing.
Following allotment of equity against the foreign currency convertible bond (FCCB) the outstanding principal value of FCCBs at Singapore Exchange has reduced to USD 204.690 million.
"Paid-up equity share capital of the company stands increased to Rs 28,858,453,702.50 divided into 5,673,618,825 fully paid-up equity shares of Rs 5 each and 392,287,662 partly paid-up equity shares of Rs 5 each, paid-up value Rs 1.25 each," the filing said.
The company had issued USD 1,000 million 1.50 per cent convertible bonds due 2025 in January 2020 that were convertible into company's fully-paid up equity shares.
"We wish to submit that upon receipt of notices for conversion of FCCBs of principal value of USD 34,281,000 from certain FCCBs holder(s), the Special Committee of Directors for Fund Raising has, today i.e. on April 29, 2024, approved the allotment of 4,766,663 fully paid-up equity shares of face value Rs 5 each at a conversion price of Rs 518 per equity share to such holder(s) of FCCBs," Airtel said in the regulatory filing.
Following allotment of equity against the foreign currency convertible bond (FCCB) the outstanding principal value of FCCBs at Singapore Exchange has reduced to USD 204.690 million.
"Paid-up equity share capital of the company stands increased to Rs 28,858,453,702.50 divided into 5,673,618,825 fully paid-up equity shares of Rs 5 each and 392,287,662 partly paid-up equity shares of Rs 5 each, paid-up value Rs 1.25 each," the filing said.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...