Investors put in jumbo orders for Airtel’s $3bn QIP, CB combo

By Jonathan Breen
09 Jan 2020

Indian telecommunications giant Bharti Airtel made a splash in the equities market this week, bagging $2bn from a qualified institutional placement (QIP) and $1bn from a convertible bond, the first equity-linked issue in the country in more than two years. Both the deals received a big thumbs-up from investors, reports Jonathan Breen.

Airtel tapped the equities market because it had a real need for funds. It needed the money primarily to pay a fine of about Rp356bn ($4.98bn) to India’s Department of Telecommunications (DoT). It has until January 24 to pay the dues, after being given three months by the ...

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