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Bharti to raise $100 m

NEW DELHI, MARCH 25. Bharti Televentures will raise $100 million through foreign currency convertible bonds (FCCB) to meet the capital expenditure during the next financial year. The decision in this regard was taken at a meeting of the board of directors of the company here on Thursday.

In a notice to the stock exchange, the company said "The board at its meeting held on March 25 has decided to raise funds through the issue of FCCBs up to $100 million with a greenshoe option of retaining an additional $15 million". The company also said that the FCCB issue would be subject to shareholders' approval.

PTI

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