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ET Markets

AGR woes: Bharti Airtel board to discuss fund raising on December 4

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Telecom operator Bharti Airtel would seek approval of its board on December 4 to raise an estimated USD 3 billion (around Rs 21,500 crore), banking sources closely following the development said on Friday. Airtel will raise the funds to pay the adjusted gross revenue (AGR) liability and partially invest in the network, sources mentioned. The company has informed the bourses that its board meeting on December 4 would consider a proposal to raise funds through issues of equity or bonds.

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