Airtel's fundraising plan comes at a time when the government has set the ball rolling for the upcoming spectrum auction, in which radio waves valued at <span class='webrupee'>₹</span>3.92 lakh crore will be put on the block.(File photo)
Airtel's fundraising plan comes at a time when the government has set the ball rolling for the upcoming spectrum auction, in which radio waves valued at 3.92 lakh crore will be put on the block.(File photo)

Airtel's final call on foreign currency bonds issuance post-meet with investors

The Bharti Airtel board had earlier this month approved fundraising plan of up to 7,500 crore via debt instruments such as debentures and bonds, in one or more tranches.
PTI, New Delhi
PUBLISHED ON FEB 22, 2021 06:13 PM IST

Bharti Airtel on Monday said it will meet global fixed income investors on or after February 23, post which the company will take a final decision on the issuance of foreign currency bonds, subject to market conditions.

The Bharti Airtel board had earlier this month approved fundraising plan of up to 7,500 crore via debt instruments such as debentures and bonds, in one or more tranches.

In a regulatory filing on Monday, Airtel said, "...the company will meet global fixed income investors on or after February 23, 2021, following which and subject to market conditions, the company will take a final decision with regard to the issuance of foreign currency bonds/ notes and a deal may or may not follow."

Accordingly, subject to such final decision, an authorised Special Committee of Directors may meet anytime on or after two working days to consider the issuance and its detailed terms and conditions, the filing added.

Airtel's fundraising plan comes at a time when the government has set the ball rolling for the upcoming spectrum auction, in which radio waves valued at 3.92 lakh crore will be put on the block. The auction in seven spectrum bands for mobile services - 700, 800, 900, 1800, 2100, 2300 and 2500MHz bands - is scheduled to start from March 1.

SHARE THIS ARTICLE ON
Close
FILE - In this Feb. 6, 2020 file photo a Volvo car is parked behind the Volvo logo in the lobby of the company's corporate headquarters, in Brussels. Volvo says it will make only electric vehicles by 2030. But for those who want one, they will have to buy it online. The Swedish automaker said Tuesday, March 2, 2021, that it is phasing out the production of all cars with internal combustion engines — including hybrids. (AP Photo/Virginia Mayo, File)(AP)
FILE - In this Feb. 6, 2020 file photo a Volvo car is parked behind the Volvo logo in the lobby of the company's corporate headquarters, in Brussels. Volvo says it will make only electric vehicles by 2030. But for those who want one, they will have to buy it online. The Swedish automaker said Tuesday, March 2, 2021, that it is phasing out the production of all cars with internal combustion engines — including hybrids. (AP Photo/Virginia Mayo, File)(AP)

Volvo cars to go electric-only and shift sales online from 2030

Bloomberg
PUBLISHED ON MAR 02, 2021 12:05 PM IST
  • With the support of its Chinese owners, Volvo has ramped up investment in electric cars since 2017
Close
Through the IPO, the company is making a fresh issue of shares aggregating up to <span class='webrupee'>₹</span>116 crore.(AP/ Representational)
Through the IPO, the company is making a fresh issue of shares aggregating up to 116 crore.(AP/ Representational)

MTAR Technologies IPO opens tomorrow: 10 points

By hindustantimes.com | Edited by Mallika Soni
PUBLISHED ON MAR 02, 2021 11:59 AM IST
According to the company’s prospectus, proceeds from the fresh issue will be used for repayment or pre-payment of its borrowings and funding working capital requirements.
Close
While its price has risen significantly over the past year, bitcoin remains highly volatile. The virtual currency smashed through $58,000 on Feb. 21 then fell back by as much as 25%.(MINT File photo )
While its price has risen significantly over the past year, bitcoin remains highly volatile. The virtual currency smashed through $58,000 on Feb. 21 then fell back by as much as 25%.(MINT File photo )

CBOE seeks approval from US Security & Exchange commission to list Bitcoin ETF

Reuters
PUBLISHED ON MAR 02, 2021 11:52 AM IST
The filing came as Citi analysts said the most popular cryptocurrency was at a "tipping point" and could become the preferred currency for international trades.
Close
On Monday, the rupee had settled at 73.55 against the American currency.(Mint)
On Monday, the rupee had settled at 73.55 against the American currency.(Mint)

Rupee surges 24 paise to 73.31 against US dollar in early trade

PTI, Mumbai
PUBLISHED ON MAR 02, 2021 10:56 AM IST
At the interbank forex market, the local unit opened at 73.32 against the US dollar, then inched higher to 73.31 against the greenback, registering a rise of 24 paise over its previous close.
Close
DIPAM in December had invited expressions of interest (EoI) for strategic disinvestment of its entire stake of 63.75 per cent in Shipping Corp of India.(File photo)
DIPAM in December had invited expressions of interest (EoI) for strategic disinvestment of its entire stake of 63.75 per cent in Shipping Corp of India.(File photo)

Privatisation: Govt gets multiple bids for Shipping corporation of India's

PTI
PUBLISHED ON MAR 02, 2021 10:51 AM IST
The Cabinet had in November last year given an in-principle approval for strategic divestment of Shipping Corp and Container Corp of India Ltd. However, the plans were delayed due to the pandemic.
Close
BPCL share sale is essential for meeting the government’s record <span class='webrupee'>₹</span>2.1 trillion divestment target that the finance ministry announced in the budget for 2020-21.
BPCL share sale is essential for meeting the government’s record 2.1 trillion divestment target that the finance ministry announced in the budget for 2020-21.

Disinvestment: BPCL to sell Numaligarh Refinery stake for 9,876 cr

PTI
PUBLISHED ON MAR 02, 2021 10:40 AM IST
In keeping with the Assam Peace Accord, the government had decided to keep Numaligarh Refinery Ltd (NRL) in the public sector. As part of this, BPCL was to sell its entire 61.65 per cent stake to state-owned firms.
Close
A farmer separates unpolished rice in Thoopran Mandal in Medak District, some 60 km from Hyderabad on November 17, 2020. (File photo)
A farmer separates unpolished rice in Thoopran Mandal in Medak District, some 60 km from Hyderabad on November 17, 2020. (File photo)

Global food prices in January at highest since 2014: Key points

By HT Correspondent| Edited by Sameer
PUBLISHED ON MAR 02, 2021 10:39 AM IST
Higher food prices could complicate the country’s nascent economic recovery, analysts said. Higher international prices of food commodities are spurring India’s food exports, but they will make India’s food imports costlier
Close
People watch the Sensex on a screen outside Bombay Stock Exchange (BSE) in Mumbai. (PTI)
People watch the Sensex on a screen outside Bombay Stock Exchange (BSE) in Mumbai. (PTI)

Indian shares extend gains as lenders, IT stocks advance

Posted by Prashasti Singh | Reuters, Bengaluru
UPDATED ON MAR 02, 2021 09:52 AM IST
The NSE Nifty 50 index rose 0.8% to 14,880.10 by 0355 GMT, about 120 points short of the 15,000 level that it last touched on Feb. 25.
Close
Capital spending fell 4.8% in October-December compared with the same period a year earlier, Ministry of Finance (MOF) data showed on Tuesday, posting a third straight quarter of declines following a 10.6% drop in July-September.(AFP)
Capital spending fell 4.8% in October-December compared with the same period a year earlier, Ministry of Finance (MOF) data showed on Tuesday, posting a third straight quarter of declines following a 10.6% drop in July-September.(AFP)

Japan cuts investments on plant, equipment, casts doubt on strength of economy

Reuters, Tokyo
PUBLISHED ON MAR 02, 2021 08:06 AM IST
Weakness in capital expenditure is likely to worry policymakers counting on private-sector investment to help the world's third-largest economy decisively shake off the health crisis.
Close
The growth was due to continuing demand for affordable, fuel-efficient hatchbacks as people opted for personal mobility.(Rahul Raut/HT Photo)
The growth was due to continuing demand for affordable, fuel-efficient hatchbacks as people opted for personal mobility.(Rahul Raut/HT Photo)

Auto sales enter fast lane with double-digit growth

By Malyaban Ghosh, Livemint, New Delhi
PUBLISHED ON MAR 02, 2021 07:07 AM IST
Commercial vehicles too posted better sales in line with a pickup in manufacturing and infrastructure activity, according to sales data issued by individual automakers on Monday.
Close
BSE and NSE issued statements that operations were going on smoothly.(AP)
BSE and NSE issued statements that operations were going on smoothly.(AP)

Glitch probe on at HDFC Securities; Zerodha faces snag

By Nasrin Sultana, Livemint, Mumbai
PUBLISHED ON MAR 02, 2021 07:03 AM IST
The brokerage firms that faced a temporary technical issue in early trade on Monday are HDFC Securities, Angel Broking, and discount brokerage firm Zerodha.
Close
After remaining in contraction mode for six months in a row since March 2020, GST collections started growing from September.(File Photo)
After remaining in contraction mode for six months in a row since March 2020, GST collections started growing from September.(File Photo)

GST revenue hits 1 Lakh-crore for 5th month

By Rajeev Jayaswal
PUBLISHED ON MAR 02, 2021 07:00 AM IST
The February collection is 7.3% higher than 1,05,361 crore collected in the same month last year, the last month before businesses took a hit on account of Covid-induced lockdown.
Close
February data pointed to the strongest increase in input inventories in the survey history as firms reacted to rising production needs by lifting purchasing activity.(Reuters file photo. Representative image)
February data pointed to the strongest increase in input inventories in the survey history as firms reacted to rising production needs by lifting purchasing activity.(Reuters file photo. Representative image)

Manufacturing activity remained strong in February

By Asit Ranjan Mishra, Livemint, New Delhi
PUBLISHED ON MAR 02, 2021 06:57 AM IST
Data released by analytics firm IHS Markit on Monday showed Purchasing Managers’ Index (PMI) for the manufacturing sector fell marginally to 57.5 in February from 57.7 in January.
Close
Urban unemployment shot up to as high as 25% after the lockdown was announced last March and remained considerably above the comfort level of policymakers until last month, even as joblessness in the rural areas recovered.(REUTERS)
Urban unemployment shot up to as high as 25% after the lockdown was announced last March and remained considerably above the comfort level of policymakers until last month, even as joblessness in the rural areas recovered.(REUTERS)

Urban jobless rate falls below 7% for the first time in 2 years

By Prashant K Nanda, Livemint, New Delhi
PUBLISHED ON MAR 02, 2021 06:47 AM IST
Urban joblessness fell to 6.99% in February from 8.08% in January, according to the Centre for Monitoring Indian Economy (CMIE), mirroring the gradual revival of the economy.
Close
Higher international prices of food commodities are spurring India’s food exports, but they will make India’s food imports costlier.(Bloomberg file photo. Representative image)
Higher international prices of food commodities are spurring India’s food exports, but they will make India’s food imports costlier.(Bloomberg file photo. Representative image)

Record global food prices benefit Indian farmers, but stoke inflation fears

By Zia Haq, New Delhi
PUBLISHED ON MAR 02, 2021 04:09 AM IST
Food and Agriculture Organisation's (FAO’s) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 113.3 points in January 2021, 4.7 points ( or 4.3%) higher than in December 2020, according to the UN agency.
Close
SHARE
Story Saved
OPEN APP