Bharti Airtel Ltd. will raise $200 million, or Rs 1,400 crore, from Qatar Investment Authority to pare debt at its Africa unit as it plans to list the business in the continent.
This is the second fund infusion by India’s No. 2 telecom operator in its profitable Africa business which has a debt of close to $3.75 billion. Billionaire Sunil Mittal-controlled carrier recently infused close to $1.25 by selling a stake to Warburg Pincus, Temasek, Singtel, SoftBank Group International and two others.
Based on the equity value of the earlier infusion, QIA should own a little more than 4 per cent stake in the African unit, according to BloombergQuint’s calculation.