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Access here alternative investment news about Airtel's Africa Arm Gets $1.25 Bn From 6 Investors, Ipo To Follow | Business Standard News
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Airtel's Africa Arm Gets $1.25 Bn From 6 Investors, Ipo To Follow | Business Standard News

by business-standard.com posted 8months ago 32 views
Bharti Airtel announced it was getting six marquee investors to put a total of $1.25 billion in its fully owned subsidiary, Airtel Africa.This will be through issue of new equity, followed soon by an Initial Public Offer (IPO) on the international stock exchange. This will enable the telecom major to cut the consolidated debt by eight per cent, says ICICI Securities. And, reduce its annual interest outgo, estimated by analysts at Rs 10 billion. These will strengthen it to take on its chief rival in the Indian market, Reliance Jio.

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