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Airtel’s board to meet on February 17 to discuss rejig of subsidiaries’ shareholding

New Delhi: ’s Board will meet on February 17, to debate strategic plans and reorganisation of shareholding framework of its models, which can outcome on consolidation and acquisition of shares.

“We want to inform you {that a} assembly of Board of Administrators of the Firm is scheduled to be held on Wednesday, February 17, 2021 to debate the long run strategic plans and the reorganisation of shareholding framework of subsidiary firm (ies), which can lead to consolidation/acquisition of shares of subsidiary firm (ies) that focus of which can be discharged via issuance of fairness shares of the Firm (ies) on a desire foundation and/money preferential foundation”, mentioned the corporate in a press release on BSE on Friday .

The telco not too long ago reported a consolidated web revenue for the fiscal third quarter after six straight quarters of losses, on the again of a continued revival of its India enterprise, together with cell providers, enterprise and direct to house companies.

This comes on the again of the telco planning to boost Rs 7,500 crore via debt devices resembling debentures and bonds in a number of tranches.

Airtel can be within the fray for purchasing spectrum within the upcoming auctions which is able to begin in March 1.

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