NEW DELHI, Jan. 17 -- Bharti Airtel Ltd's qualified institutional placement (QIP) and FCCB (foreign currency convertible bond) issue have reportedly received high demand from investors. The firm was looking to raise up to $3 billion through the two issuances.
One of the reasons for the reported success of the issue could be the sharp increase in subscriber additions and voice traffic in the December quarter. The company released certain operating metrics for Q3 while announcing the launch of the fundraise.
Total voice volumes on the Airtel network grew 5.9% sequentially last quarter. In the September quarter, they had dropped 2.8%.
The growth came even as market leader Reliance Jio Infocomm Ltd began charging an additional amount to reco...