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Bharti Airtel sets up panel to explore fund-raising options

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New Delhi, Dec 20 (IANS) Telecom major Bharti Airtel on Thursday set up a committee to explore options to rais funds to strengthen its capital structure.

The company, in its board meeting during the day, also announced the appointment of Badal Bagri as the Chief Financial Officer, with effect from March 1, 2019.

“The Board of Directors of the company has formed and authorised ‘Special Committee of Directors for Fund Raising’ to comprehensively explore and evaluate various options of fund-raising for the company to strengthen its capital structure and balance sheet and place the final recommendation before the Board for its approval or final decision,” Bharti Airtel said in a BSE filing.

Further, the company also decided to sell 32 per cent stake in Bharti Infratel to its wholly-owned subsidiary Nettle Infrastructure Investments for potential monetisation of the stake in future.

With the latest sale or stakes, Bharti Airtel’s share in Infratel would be 18.33 per cent, Nettle would have 35.18 per cent and the remaining 46.49 per cent stake would be held by the public and other shareholders, Bharti Airtel said in the filing.

“In order to explore a potential monetisation of stake in Bharti Infratel Ltd (‘Infratel’) in the future, subject to the approval of shareholders, the Board approved sale or transfer of up to 591.87 million equity shares (32 per cent) of Infratel owned by the company, to its wholly-owned subsidiary, Nettle Infrastructure Investments Ltd (Nettle) in such tranche(s), at such time(s) and on such terms and conditions, as may be deemed fit,” it said.

On Thursday, shares of Bharti Airtel settled at Rs 316.15 per share, lower by Rs 6.10 or 1.89 per cent from the previous close.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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