This comes after the telecom operator on Tuesday received shareholders approval to raise Rs 20,000 crore through equity linked instruments. Besides raising funds via equity, the cash-strapped operator is also engaging with its lenders for tying up debt funding.
The loss-making carriers shares were, subsequently trading 8.91 % higher at Rs 17.73 on the BSE Friday, lifting the companys market capitalisation to around Rs 86,406.7 crore.
Sachin Agarwal says: “The primary purpose for this fundraise was to take forward all our investments in the area of metal manufacturing and core technologies related to metal components and titanium, superalloys. With this fundraise, we have now almost reached a fully funded capability for all the projects, which are basically three projects.”