INSUBCONTINENT EXCLUSIVE:
times subscription, garnering pledges of $9-10 billion.
In a BSE filing, Airtel said a special committee of directors would be meeting on
January 14 to consider the QIP issue price
This will include any discount on the floor price, along with the issue price and other terms of the sale of FCCBs.
The scrip rose 1.31 per
cent to hit a high of Rs 465.90 on BSE.
Airtel is looking to raise the money through a private placement of equity shares and the sale of
foreign currency convertible bonds (FCCBs) as it seeks to pay more than Rs 35,500 crore in statutory dues.
Global investors, foreign banks
and leading local institutional players including Goldman Sachs, GIC, BlackRock and Fidelity have evinced interest in both the $2 billion
Management, Axis MF, Capital Group, ICICI Prudential, SBI MF, Birla MF, HDFC MF and ICICI Pru Mutual Fund have lined up for the QIP, they
BNP Paribas, Lombard Odier, Barclays, UBS and Segantii Capital among others have pitched for the overseas bonds, they added