Bharti Telecom Eyes Record Rupee Bond Issuance of $961 Million in India
Bharti Telecom Eyes Record Rupee Bond Issuance of $961 Million in India

Bharti Telecom, under the ownership of Sunil Bharti Mittal, is gearing up for its most significant foray into India's rupee bond market yet, eyeing a colossal sum of $961 million (approximately 80 billion rupees), as per sources familiar with the matter.

The company is poised to initiate bids this week for bonds maturing in durations of two, three, and five years, according to undisclosed individuals acquainted with the situation. Should the transaction materialize, it will mark Bharti Telecom's largest-ever issuance in the rupee market, as documented by Bloomberg's compiled data.

This move by Bharti Telecom arrives amid the expansive endeavors of its subsidiary, Bharti Airtel Ltd., India's second-largest wireless carrier, in the nationwide deployment of 5G services. This deployment comes amidst fierce competition against its formidable rival, billionaire Mukesh Ambani's Reliance Jio Infocomm Ltd.

Furthermore, this issuance signifies Bharti's return to the onshore market after nearly a year's hiatus. The company previously raised 32 billion rupees through three-year notes in December of the preceding year.

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