Bharti Telecom Raises ₹8,500 Crore Through Bond Issuances; Promoter Group Continues Share Sales

Bharti Telecom has accepted bids worth ₹8,500 crore ($950 million) for its latest bond issuances, according to a Reuters report. The company raised funds through two sets of bonds — one maturing in two years at a 7.30% coupon and another maturing in three years and two months at a 7.40% coupon. Both tranches received strong demand earlier in the day, though Bharti Telecom has not yet commented on the developments.

Deal data from the day also showed activity across other issuers, including Cholamandalam Investment, which raised funds at a 7.36% coupon for a three-year tenure. Ratings for the Bharti Telecom bonds remain strong at AAA (CRISIL). Meanwhile, promoter activity continued in the broader Bharti group, as Indian Continent Investment Ltd (ICIL) offloaded 34.2 million shares of Bharti Airtel in a block deal worth ₹7,195 crore. The sale, handled solely by Goldman Sachs India Securities, led to a 3% drop in Airtel’s stock price.

This marks the third major promoter-related transaction this year. Earlier in November, Singtel sold 51 million Airtel shares at ₹2,030 each, raising ₹10,300 crore through its unit Pastel, after having sold 47.6 million shares in May for ₹8,568 crore. Despite strong financial activity, Bharti Airtel’s stock faced intraday pressure following the latest block deal, trading near a floor price of ₹2,096.70 per share on the NSE.