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Bharti Airtel repays Rs.6,796 crore debt

India's largest telecommunication provider Bharti Airtel Monday announced that it has repaid its Rs.6,796 crore debt from the 5 percent stake sale to the Qatar Foundation Endowment.



New Delhi: India's largest telecommunication provider Bharti Airtel Monday announced that it has repaid its Rs.6,796 crore debt from the 5 percent stake sale to the Qatar Foundation Endowment.

The company said in a statement that this significant debt reduction will result in the improvement in its capital structure and balance sheet leverage.

“In June 2013, 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,” it said.

IANS

From Zee News

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