Bharti retires debt worth Rs 6,796 crore

Bharti Airtel has announced that it has retired debt of Rs 6,796 crore out of a total debt of Rs 63,800 crore.

The company was raised Rs 6,796 money through preferential allotment of 5 per cent equity shares to Qatar Foundation Endowment (QFE).

Last month, Bharti had issued 199,870,006 new equity shares, representing 5 percent equity stake in the company, to Qatar Foundation Endowment for a total consideration of Rs 6,796 crore.
As per the agreement, QFE got 199.87 million new shares of Bharti at a price of Rs 340 per share amounting to a total consideration of $1.26 billion (Rs 6,796 crore).