NEW DELHI: Bharti Airtel on Friday stated it’s going to allot 38.6 lakh equity shares to certain FCCB holders at a conversion worth of Rs 518 per equity share. This follows receipt of discover for conversion of FCCBs (Foreign Currency Convertible Bonds) of principal worth of USD 27,795,000 from the FCCBs holders.
Accordingly, it stated, the paid-up equity share capital of the corporate has elevated.
The telco’s committee of administrators for fundraising authorized the allotment of shares to these FCCB holders on Thursday, in accordance to a regulatory submitting.
“…upon receipt of notices for conversion of FCCBs of principal value of USD 27,795,000 from certain FCCBs holder(s), the Special Committee of Directors for Fund Raising has, today, that is on February 01, 2024, approved the allotment of 3,864,800 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,” the submitting stated.
FCCB is a debt instrument to elevate funds from abroad market. Such bonds have a hard and fast coupon price and principal funds and likewise give bondholders the choice to convert their holdings into shares.
“This is in reference to the USD 1,000 million 1.50 per cent convertible bonds due 2025 issued by the company vide offering circular dated January 14, 2020, convertible into company’s fully-paid up equity shares of Rs 5 each at any time on or after February 27, 2020 and up to the close of business hours on February 07, 2025, at the option of the FCCB holders,” the corporate stated in its submitting.
The excellent principal worth of FCCBs, as listed at Singapore Exchange, stands diminished to USD 527.036 million, the submitting knowledgeable.
“Paid-up equity share capital of the company stands increased to Rs 28,634,347,687.50 divided into 5,628,797,622 fully paid-up equity shares of Rs 5 each and 392,287,662 partly paid-up equity shares of Rs 5 each…,” it stated.
Accordingly, it stated, the paid-up equity share capital of the corporate has elevated.
The telco’s committee of administrators for fundraising authorized the allotment of shares to these FCCB holders on Thursday, in accordance to a regulatory submitting.
“…upon receipt of notices for conversion of FCCBs of principal value of USD 27,795,000 from certain FCCBs holder(s), the Special Committee of Directors for Fund Raising has, today, that is on February 01, 2024, approved the allotment of 3,864,800 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,” the submitting stated.
FCCB is a debt instrument to elevate funds from abroad market. Such bonds have a hard and fast coupon price and principal funds and likewise give bondholders the choice to convert their holdings into shares.
“This is in reference to the USD 1,000 million 1.50 per cent convertible bonds due 2025 issued by the company vide offering circular dated January 14, 2020, convertible into company’s fully-paid up equity shares of Rs 5 each at any time on or after February 27, 2020 and up to the close of business hours on February 07, 2025, at the option of the FCCB holders,” the corporate stated in its submitting.
The excellent principal worth of FCCBs, as listed at Singapore Exchange, stands diminished to USD 527.036 million, the submitting knowledgeable.
“Paid-up equity share capital of the company stands increased to Rs 28,634,347,687.50 divided into 5,628,797,622 fully paid-up equity shares of Rs 5 each and 392,287,662 partly paid-up equity shares of Rs 5 each…,” it stated.
