Billionaire businessman Sunil Bharti Mittal's company Bharti Telecom plans to raise a large amount from the market. Bloomberg has given this information quoting sources. Sources said that the company is planning to raise Rs 8500 crore i.e. more than one billion dollars through local currency bonds. According to the source, the company can call for bids for bonds of 3 to 10 years duration next week. In this, 9 percent can be offered on long term bonds.
 

If the company succeeds in raising funds, it will be the company's largest issue of bonds issued in rupees so far. The company's plan to raise funds has come a few days after the release of Bharti Airtel's results. Due to losses due to foreign exchange, these results have been weaker than analyst estimates. Bharti Telecom has more than 39 percent stake in Bharti Airtel. At present, there has been no response from Bharti Telecom on the news related to raising funds. According to sources, Standard Chartage and Barclays are helping the company in the process of raising funds. Bharti Telecom had raised Rs 8000 crore in December 2023.

In Wednesday's trading, Bharti Airtel's stock closed with a slight decline at 1633.6. During the session, the stock fell to the level of 1618. The stock is currently close to its highest level of the year at 1779. Which was recorded on 26 September last month. At the same time, the lowest level of the stock for the year is 896. (Disclaimer: The advice or views given on CNBC TV18 Hindi / CNBC Awaaz are the personal views of the experts, brokerage firm, the website or management is not responsible for it. Before investing, please consult your financial advisor or certified expert.)