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    532454   INE397D01024

BHARTI AIRTEL LIMITED

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India's Bharti Airtel plans to raise up to $2.86 billion via share sale

08/29/2021 | 09:20am EDT
FILE PHOTO: A girl checks her mobile phone as she walks past the Bharti Airtel office building in Gurugram

NEW DELHI (Reuters) - Indian wireless carrier Bharti Airtel said on Sunday it plans to raise up to 210 billion rupees ($2.86 billion) via a sale of shares to existing shareholders as it builds a war chest to prepare for the launch of 5G services.

Bharti said the shares would be priced at 535 rupees apiece, which is around a 10% discount to Friday's close of 595.15 rupees.

Bharti founder-chairman Sunil Mittal and others in the founder group will also participate in the share purchase, the company said in a statement.

The company said that shareholders would be eligible to buy one share for every 14 share they hold in the telecom firm.

India, one of the world's biggest telecoms markets, has been upended by billionaire tycoon Mukesh Ambani-controlled Jio Infocomm, which launched with free voice and cut-price data in late 2016.

With more than 352 million subscribers, Airtel is India's second biggest carrier by users after Jio.

Ambani has forced several rivals out of the market while others such as the local unit of Britain's Vodafone and India's Idea merged to withstand Jio's onslaught.

Ambani has also won the backing of Facebook as well as Qualcomm and Intel for his Jio Platforms digital unit, the parent of his telecoms venture.

Jio has developed its own 5G solution and Ambani has said the carrier will be the first to launch 5G services in India.

($1 = 73.4700 Indian rupees)

(Reporting by Devjyot Ghoshal and Sankalp Phartiyal; Editing by Angus MacSwan)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHARTI AIRTEL LIMITED 0.78% 696.15 End-of-day quote.36.69%
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VODAFONE GROUP PLC 1.70% 112.6 Delayed Quote.-6.93%
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Analyst Recommendations on BHARTI AIRTEL LIMITED
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Financials
Sales 2022 1 127 B 15 055 M 15 055 M
Net income 2022 48 126 M 643 M 643 M
Net Debt 2022 1 334 B 17 811 M 17 811 M
P/E ratio 2022 79,3x
Yield 2022 0,32%
Capitalization 3 821 B 50 974 M 51 027 M
EV / Sales 2022 4,57x
EV / Sales 2023 3,84x
Nbr of Employees 18 329
Free-Float 41,1%
Chart BHARTI AIRTEL LIMITED
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Bharti Airtel Limited Technical Analysis Chart | 532454 | INE397D01024 | MarketScreener
Technical analysis trends BHARTI AIRTEL LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 28
Last Close Price 696,15 INR
Average target price 774,16 INR
Spread / Average Target 11,2%
EPS Revisions
Managers and Directors
Gopal Vittal CEO, Managing Director & Executive Director
Badal Bagri Chief Financial Officer
Sunil Bharti Mittal Chairman
Randeep Singh Sekhon Chief Technical Officer & Network Director
Pradipt Kapoor Chief Information Officer
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