Bharti Telecom’s ₹8,000 crore NCD issue has been fully subscribed with anchor investors getting full allotment. Bidding was based on multiple yields.
The series 1 issue for ₹3,000 crore with a coupon of 8.95 per cent saw a non-anchor allotment of ₹2,100.00 crore and a balance amount allocated to anchor investors.
The 8.90 per cent issue for an amount of ₹3,000 crore had non anchor allocation of ₹2,100 Crore.
The nine per cent paper had a total size of ₹2,000 crore and non-anchor allocation was ₹1,400 Crore.
This is the largest rupee bond issue by the holding company of telecom services provider Bharti Airtel.
The anchor investors included a number of mutual funds and insurance companies.
- Also read: Protecting bonds from taxes
The company today announced buying a 1.35 per cent stake in Airtel for ₹8301.7 crore. The stake was acquired from Indian Continent Investment. After the acquisition its stake in Bharti Airtel is now at 39.59 per cent.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.