Bharti Airtel rings up lenders for $3-billion funding to clear AGR dues

Telecom services provider Bharti Airtel has called banks out to raise up to $3 billion (around Rs 21,000 crore)  predominantly to pay the dues on account of adjusted gross revenue (AGR). A senior executive with a global bank said the obligation to pay the AGR dues as a fallout of the Supreme Court ruling was expected to put huge pressure on the existing resources of the mobile operator. A Bharti Airtel spokesperson declined to comment on the company’s plans to raise fresh funds from banks. Sources in the company, however, said Bharti Airtel’s internal accruals were.....

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