Bharti Airtel on Thursday said that Bharti Telecom and Singtel have mutually agreed to amend the existing shareholders' agreement to better align with business requirements and governance standards, and that as part of the changes, Singtel has relinquished "several key reserved rights".
India's second-largest telecom service provider Bharti Airtel will call in March 2026 the final tranche of about Rs 15,741 crore from its 2021 rights issue of Rs 21,000 crore, proceeds from which will be used towards retiring majority of non-government-related debt.
Activity in the corporate bond market is set to gain momentum following a 25-bp policy repo rate cut by the rate-setting panel of the Reserve Bank of India (RBI). State-owned public cebPower Finance Corporation (PFC) and Small Industries Development Bank of India (Sidbi) are planning to raise up to Rs 11,500 crore through bonds on Tuesday as issuers expect borrowing costs to ease.
Indian corporates collectively raised over Rs 17,500 crore from the domestic debt capital market through bond issuances on Tuesday. The issuances were led by Bharti Telecom's Rs 10,500 crore fundraise in two tranches, the largest by an Indian company in the domestic market so far in FY26.
Bharti Airtel promoter Bharti Telecom will buy a 3.33 per cent Airtel stake from Singtel for 2.25 billion Singapore dollars or about Rs 12,895 crore in 90 days' time, the telecom operator said on Thursday. Bharti Group chairman Sunil Bharti Mittal's family and Singtel are co-investors in Bharti Telecom (BTL). Singtel in a statement said that after the transaction, Singtel Group is expected to own an effective stake of 29.7 per cent in Bharti Airtel, which is estimated to be worth SGD 22 billion (about Rs 1.26 lakh crore).
The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
Bharti Telecom stake in the company has been now been raised to 43.72 per cent, the company said in a BSE filing.
Companies such as Tata Sons and Bharti Telecom, which are unlisted but have listed subsidiaries, may soon have to file periodic financial statements with the registrar of companies under the new provision of the Companies Act. The provision requires greater financial disclosures by a certain category of unlisted companies.
After the transaction with Temasek, Singtel will hold 47.39 per cent in Bharti Telecom.
Bharti has been expanding its spectrum portfolio and now owns 4G data across all 22 circles in India
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
Singapore Telecommunications has stepped up its stake in Bharti Televentures to 30.84 per cent from the current 28.16 per cent.
Apex court said it will decide on it, irrespective of the opinion of government law officers.
Managing director of Ashok Leyland R Seshasayee was elected CII president while Sunil Bharti Mittal of Bharti Telecom became the vice president on Wednesday.
Bharti Telecom, the unlisted holding company of Bharti Airtel, may issue fresh equity to the MTN group to give it the 25 per cent economic interest in India's largest mobile service provider.
Global investment major AMP Capital Investors is launching a $500 million equity fund sometime soon this year to invest in infrastructure in India and China. This will be the third such fund from AMP.
Diversified private telecom operator Bharti Televentures on Wednesday unveiled a unified branding strategy for all telecom services with Airtel as the flagship brand.
Offers 40% cheaper calls to India, AT&T also drops rates.
Touchtel, India's first private fixed line telephone service provider from Bharti Telecom Limited, on Wednesday announced the slashing of ISD and STD rates.
This is the single largest foreign investment in India so far.
This is the biggest equity-raising exercise by an Indian corporate within a financial year. The fundraising - led by Citibank, Goldman, Kotak and Axis Capital as bankers - will see participation by foreign and domestic institutional investors.
Total exit value breached the $10 billion mark for the first time to touch $10.3 billion this calendar, from $9.4 billion in 2015
Financials were the top gainers lead by private lenders ICICI Bank and HDFC Bank
A consummate deal-maker, the former Aircel boss raked in the moolah in many, but lost a packet in several others.
The company received a fresh equity infusion in 2012-13.
A look at the life and times of maverick businessman Chinnakannan Sivasankaran
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