Bharti Airtel Limited fell around 2 percent on Thursday ahead of the company’s board meet to finalize its fundraising plans. The fund raising plan takes into consideration since the telecoms company is looking to trim its debt and finance costs as well as strengthening cash flows, following the emergence of Reliance Jio in to the market.
Bharti Airtel Limited reportedly is considering to raise as much as Rs 15,000 crore through issuance of fresh shares in the current fiscal. Moreover, as per reliable information, it is also considering the options of rights issue to existing share-holders or private placement (PP) to institutional investors and promoters.
Looking to the stock movements of Bharti Airtel Limited, it seems, however, investors were not exited with this development, as the share movement of Bharti Airtel isnot in a positive circuit in bourses.
During Mid-morning market hours, Bharti Airtel share price is quoting at Rs. 316.75 per share, down by 1.84 percent on the NSE, whose benchmark index Nifty meantime trade lower at 68 points at 10,898 and the Sensitive index of BSE at 36270-marks down 213 points.