Bharti Airtel is set to utilise a portion of its remaining rights issue proceeds to prepay a major part of its balance dues on the spectrum acquired in the 2015 auction, according to a report by The Economic Times (ET). This may have triggered Bharti Telecom (BTL), which owns 38.75 per cent stake in Airtel, to raise around Rs 8,000 crore (under $1 billion) through non-convertible debentures NCDs.
The NCDs will reportedly be raised in three tranches of Rs 2,000 crore, Rs 3,000 crore, and Rs 3,000 crore with two, three, and five-year maturities.