Bharti Telecom Ltd., under the ownership of Sunil Bharti Mittal, is reportedly contemplating a significant move in India's local currency bond market, aiming to secure around 80 billion rupees (approximately $961 million). This strategic move involves the issuance of bonds with varying maturities of two, three, and five years. Sources, preferring anonymity, disclosed that the company is anticipated to initiate the bidding process within the week. If successfully executed, this venture would mark Bharti Telecom's most substantial rupee issuance to date.
The timing of this bond market entry aligns with the ongoing efforts of Bharti Airtel Ltd., the conglomerate's subsidiary and the second-largest wireless carrier in India, which is actively deploying 5G services across the nation. This strategic push positions Bharti Airtel in direct competition with Reliance Jio Infocomm Ltd., owned by billionaire Mukesh Ambani.
It's noteworthy that this bond issuance represents Bharti Telecom's first foray into the onshore market in almost a year. The last onshore bond issuance took place in December of the previous year, where the company successfully raised 32 billion rupees through three-year notes.
