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Airtel may raise $3.5billion through stake sale in Infratel-Indus merged entity, says Moody’s

July 19, 2019
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According to Moody’s, Bharti Airtel might raise  $3.5 billion from the sale of its stake in Indus Towrers- Bharti Infratel soon to be merged entity, rights issue and the initial public offering (IPO) of its Africa business.

The fund raising could help Airtel bring its debt-to-EBITDA or leverage ratio below 3.5 times by March 2020 and strengthen its balance sheet along with improving the cash flow.

Further, Moody’s said that Airtel will rely more heavily on organic cash flow from its Indian operations to ensure adequate financial flexibility in the future.

 
 
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