‘Bharti’s rights issue to help fuel growth’

Mittal sees scope to accelerate investments in roll-out of 5G services, fibre and data centre business

Bharti Airtel’s plan to raise up to ₹21,000 crore through a rights issue will give the company the fuel to shift to a higher gear and tap large opportunities by accelerating investments in the roll-out of 5G services, fibre, and data centre business, Chairman Sunil Mittal said on Monday. Mr. Mittal said the industry has been urging the government to address some pressing issues “inhibiting” continued investments in the sector and added that the taxes on the industry remain high. “For every ₹100 of revenue, ₹35 go in various forms of levies. We hope that as we step up and do our part, the government will also favourably look at some of the genuine demands of the industry, enabling a multiplier effect and positive outcome,” Mr. Mittal said in an investor call on the company’s fundraising plans.