Indian telecommunications services company Bharti Airtel, part of Bharti Enterprises, will secure about $525 million as part of its plan to raise $4.6 billion via shares and bonds.
Under the deal, Airtel will sell new shares worth $3.6 billion for $3.14 apiece and expects to bag another $999.4 million via foreign-currency denominated bonds.
The investments will come from Singapore Telecommunications Ltd. (Singtel), part of investment company Temasek Holdings.
With the projected funds, Airtel will settle down credit and improve its balance sheet.