Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English

Lok Sabha Elections 2019Exit Poll Results

All India Figures

Assembly Elections 2019 Exit Poll Results

»
1-min read

Six Global Investors, Including Softbank Group and SingTel, to Invest $1.25 Billion in Airtel Africa

The investment will be used to reduce Airtel Africa's existing debt of approximately USD 5 billion and for growth of its African operations, the Bharti Airtel unit listed in UK said.

PTI

Updated:October 24, 2018, 7:08 AM IST
facebookTwittergoogleskypewhatsapp
Six Global Investors, Including Softbank Group and SingTel, to Invest $1.25 Billion in Airtel Africa
Jio Effect: Airtel’s Brings a New Prepaid Recharge of Rs 419, Offers 1.4 GB of Per Day Data, 75 Days Validity
Loading...
New Delhi: Six global investors, including Warburg Pincus, Temasek, Singtel and SoftBank Group International, have agreed to invest USD 1.25 billion through a primary equity issuance in Airtel Africa, the company said Wednesday.

The investment will be used to reduce Airtel Africa's existing debt of approximately USD 5 billion and for growth of its African operations, the Bharti Airtel unit listed in UK said.

"...Six leading global investors comprising Warburg Pincus,Temasek, Singtel, SoftBank Group International and others have agreed to invest USD 1.25 billion through a primary equity issuance in the company at a post money equity value of approximately USD 4.4 billion," Airtel Africa said in a statement.

Airtel Africa has seen a turnaround of its business in recent years. The Africa business unit in the last few quarters mitigated the impact of turbulent tariff war going on in India on consolidated financial performance of Bharti Airtel.

"This primary equity issuance clearly underlines the confidence of leading global investors in Airtel Africa's successful business strategy and its potential to sustain growth and profitability," Raghunath Mandava, MD and CEO, Africa, Bharti Airtel, said.

Airtel Africa subsequently intends an initial public offering and use the proceeds primarily for further reduction of debt, the statement said.

"The transaction will help us further deleverage our balance sheet and boost our capacity to upgrade networks, expand coverage in different markets and achieve rapid growth of Airtel Money across our operations," Mandava said.

The present transaction will not involve any sale of shares by existing shareholders, the company said.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
Bajaj Finance 3,301.10 6.14
Yes Bank 134.15 -2.61
Interglobe Avi 1,473.75 0.60
Reliance 1,267.40 0.16
HDFC Bank 2,362.10 2.23
Company Price Change %Gain
Yes Bank 134.55 -2.36
Bajaj Finance 3,301.20 6.09
Reliance 1,265.70 0.13
Interglobe Avi 1,474.00 0.50
ICICI Bank 390.30 2.23
Top Gainers
Company Price Change %Gain
Zee Entertain 372.15 7.65
Bajaj Finance 3,301.10 6.14
Bajaj Finserv 7,992.95 4.93
Hero Motocorp 2,622.55 4.06
Maruti Suzuki 6,706.85 3.51
Company Price Change %Gain
Bajaj Finance 3,301.20 6.09
Hero Motocorp 2,623.50 4.26
Maruti Suzuki 6,707.20 3.53
Kotak Mahindra 1,460.70 3.31
Bajaj Auto 3,041.80 3.30
Top Losers
Company Price Change %Gain
Yes Bank 134.15 -2.61
Dr Reddys Labs 2,745.00 -2.00
Vedanta 160.95 -1.56
Hindalco 191.70 -1.49
Infosys 723.90 -1.25
Company Price Change %Gain
Yes Bank 134.55 -2.36
Vedanta 160.80 -1.44
Infosys 723.80 -1.42
HCL Tech 1,061.60 -1.15
Sun Pharma 408.00 -0.74

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results