Search
Bharti Airtel plans $1bn in fresh capital
February 09, 2022
Bharti Airtel Ltd on Tuesday said it will raise $1 billion via debt after it revealed surprisingly good quarterly revenue on higher tariff rates.
Airtel likewise said it would raise ₹75 billion ($1 billion) by giving non-convertible debt securities, including debentures, bonds, however, didn’t give further details.
Engaged with a fierce price war that began since the entry of billionaire Mukesh Ambani’s Reliance Jio into the Indian telecom sector in 2016, Airtel has been raising capital for the development of its products and services to draw more clients.
Last month, Alphabet Inc’s Google said it will put up to $1 billion in Airtel to help with the development of its devices, home broadband, data centres, cloud adoption and develop 5G networks over a period of time.
India’s telecom sector has been profiting from increased data use as more individuals take to remote work because of the COVID-19 pandemic.
Airtel in November increased tariff duties on prepaid plans, as did Reliance Jio and Vodafone Idea, while reiterating that the business’ average revenue per user (ARPU) – a key performance indicator in the telecoms industry – need to go as high as 300 rupees for a financially healthy business model.
Important Links:
- Post Graduate Diploma in Management (PGDM): https://tscfm.org/courses/3-in-1-management-program/