In Short:
Bharti Airtel has given shares worth Rs 246 crore to foreign debt bond holders, as their bonds were due in 2025. The company issued convertible bonds in 2020, which holders are now converting into equity shares. This has reduced the outstanding bond value to USD 204.690 million. Airtel’s equity share capital has now increased to Rs 28,858,453,702.50.
Bharti Airtel Allots Equity Shares Worth Rs 246 Crore to Foreign Debt Bond Holders
In a recent regulatory filing, Bharti Airtel has announced the allotment of equity shares worth approximately Rs 246 crore to its foreign debt bond holders. The bonds are due for maturity in February 2025. This move comes after the company issued USD 1,000 million 1.50% convertible bonds due 2025 in January 2020, which were convertible into the company’s fully paid-up equity shares.
Approval and Reduction in FCCB Principal
The company stated, “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 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.”
Following the 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.
Updated Equity Share Capital
The filing further mentioned, “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.”
