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New Delhi: Bharti Airtel Tuesday said it has approved the allotment of equity worth $5.1 million (about 42 crore) to holders of its foreign debt bonds issued in January 2020 at 521 a share...
The bonds were convertible into the company's fully paid-up equity shares of 5 each before February 2025 at the option of the FCCB holders...
"We wish to submit that upon receipt of notice for conversion of FCCBs of principle value of $5,108,000 from certain holders of FCCBs, the special committee of directors for fund raising has, today i.e. on April 04, 2023, approved the allotment of 706,161 fully paid-up equity shares of face value INR 5/- each at a conversion price of INR 521/- per equity share to such holders of FCCBs," Bharti Airtel said in an exchange filing.With this allotment, the company said that the outstanding principal value of FCCBs as listed at Singapore Exchange Limited stands reduced to $908.59 million.Airtel.
