Airtel to allot 8,350,073 shares for foreign currency bonds worth $60 mn

Airtel to allot 8,350,073 shares for foreign currency bonds worth $60 mn

The debt instruments were part of FCCB bonds worth $1000 million, which were issued in 2020, and are convertible till February 2025.

FPJ Web DeskUpdated: Wednesday, January 04, 2023, 08:22 PM IST
article-image

Through a regulatory filing, India's second largest telecom firm Airtel has informed that it will allot 8,350,073 shares worth Rs 5 each, for foreign currency convertible bonds worth more than $60 million.

The debt instruments were part of FCCB bonds worth $1000 million, which were issued in 2020, and are convertible till February 2025. The conversion price for each equity share allotted to the bond holders was Rs 521.

FCCBs are issued by Indian firms in foreign currency, and the interest as well as principal is payable on them in that currency. They are used for raising funds from overseas investors.

RECENT STORIES

ITR Refund Delay Explained, Know The Key Reasons Behind The Hold-Up

ITR Refund Delay Explained, Know The Key Reasons Behind The Hold-Up

Sahara Group’s Anil Abraham, Property Broker JP Verma Held In Money Laundering Probe: Enforcement...

Sahara Group’s Anil Abraham, Property Broker JP Verma Held In Money Laundering Probe: Enforcement...

Lodha Developers Eyes ₹1,500 Crore Rental Income By FY31, To Offset Interest And Salary Costs: MD...

Lodha Developers Eyes ₹1,500 Crore Rental Income By FY31, To Offset Interest And Salary Costs: MD...

DLF Chairman Rajiv Singh’s Pay Jumps 34% To ₹36.65 Crore, Performance-Based Bonuses Drive...

DLF Chairman Rajiv Singh’s Pay Jumps 34% To ₹36.65 Crore, Performance-Based Bonuses Drive...

Strong Demand For Travel Food Services IPO, Grey Market Signals Mild Premium On Listing

Strong Demand For Travel Food Services IPO, Grey Market Signals Mild Premium On Listing