India: Bharti Airtel to raise $4.5b to pare debt, expand its network

A girl checks her mobile phone as she walks past the Bharti Airtel office building in Gurugram, previously known as Gurgaon, on the outskirts of New Delhi, India April 21, 2016. REUTERS/Adnan Abidi/File Photo

The board of Bharti Airtel Ltd, the country’s second largest telecom operator, on Thursday approved the raising of ₹32,000 crore through a rights issue to shareholders and by selling foreign currency denominated bonds to pare debt and expand its network.

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