Shares of Bharti Airtel Ltd. declined nearly 3% to Rs 595.35 apiece after the company announced that it will consider various capital raising options on Sunday.
According to an exchange release by Bharti Airtel, the board of directors would consider capital raising options through equity or equity linked debt instruments or any combination thereof including through rights issue, QIP, preferential issue, convertible instruments issued domestically or foreign currency convertible bonds, or warrants on a preferential or marketed basis, or straight long dated debt in rupee or foreign currency, as the board deemed appropriate.
Of the 33 analysts tracking the company, 32 maintained ‘buy’, 1 maintained ‘hold’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 22.4%
