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Airtel举行董事会会议在8月29日考虑融资选择
Bharti董事长苏尼尔•米塔尔表示,6月的旅馆,有近3.51亿手机、宽带和潜孔订户在印度,已经筹集了120亿美元在过去24个月。
Bharti Airtel印度第二大电信表示,其董事会将在8月29日考虑并批准通过股票筹集资金,股票或债务工具或组合有关。
分析师表示,航母的最新举动可能旨在实现其调整后的总收益(AGR)和频谱费总计近13000卢比来支付在2022年上半年。他们补充说,筹集资金将进一步加强Airtel的资产负债表,并结合一个财力雄厚的依赖Jio,会增加现金拮据的困境的沃达丰的主意,谁能放弃收入和用户市场份额甚至更快。
“我们想通知你,公司的董事会会议定于周日,8月29日,2021年,尤其考虑各种融资选项通过股权或股权与债务工具或任何组合的,董事会可能认为合适,“Airtel在周三通知证券交易所。
承运人当天股价触及纪录高位Rs 644年8月16日,在一个积极的前景。分析师称第一财政季度业绩反映了健康的4 g的增加,收入结构改进,史无前例的家庭宽带用户增加和健康的自由现金流(自由现金流量)的一代,以及一致的用户和收入市场份额。
多数券商股票“买入”评级。里昂证券(CLSA),例如,有一个目标价格730卢比,高盛(Goldman Sachs)的Rs 675, Jefferies Rs 685。
Bharti的主席苏尼尔•米塔尔6月说的旅馆,有近3.51亿手机,宽带和潜孔订户在印度,已经筹集了120亿美元在过去24个月。但“…人能永不说永不筹集新资本,(尽管)没有立即”管道。
“Bharti的最新筹资计划似乎引发了即将到来的AGR(调整后的总收益)和光谱付款义务,即使公司是有利可图的,“全球领先的经纪公司的分析师说,不愿具名。
公司的净债务增加June-end约1.6十万的卢比从1.5十万的卢比在前一个季度,和它的净债务的营业率在三次,认为“舒适”行业分析师。
高盛(Goldman Sachs)估计Airtel需要支付4100卢比的AGR会费截至2022年3月,和光谱也有支付价值8500卢比在FY23上来。此外,旅馆需要积极保持投资扩大和深化其4 g网络与竞争对手进行激烈战斗,因为它涉及Jio财政紧张,沃达丰的想法的用户的依赖。
补充说,电信可能面临“年度现金缺口至少2000卢比(2.7亿美元)保持在当前水平,如果关税”FY23。
承运人也需要财务准备下一个在2022年初auctions-likely——这将涉及出售5 g电波,紧随其后的是未来世代服务的推出。
Jio, Airtel继续增加收入市场份额沃达丰想法的代价,分析师说
分析师预计六世的资产负债表延伸到加速的步伐收入分享转向Jio和旅馆。任何潜在的政府的救济措施也将工作两大电信公司的优势为Vi将增量现金流偿还监管费,而不是流入新鲜4 g资本支出,他们说。
经纪Motilal Oswal估计所需的资本支出5 g网络推出pan-India包括频谱,网站和纤维将十万的1.3卢比- 2.3的卢比,预计的78800 crore-Rs 1.3十万的卢比的地铁城市和一个圆圈。
Bharti集团的融资有其数字和电信资产重组的过程中,能够创造更多的盈利机会。
根据新的公司结构,Bharti Airtel将所有的数字资产,而电信企业被拆成一个新单位,Airtel公司,全资子公司在保护伞公司Bharti Airtel。Airtel付款银行和旅馆的国际和基础设施业务包括Airtel非洲和印度塔和Nxtra将伞下的其他两个单位的公司。
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<\/figure>Bharti Airtel<\/a>, India\u2019s second largest telco, has said its board will meet on August 29 to consider and approve raising funds via equity, equity linked or debt instruments or a combination.
Analysts say the carrier\u2019s latest move is likely aimed at meeting its adjusted gross revenue (AGR) and spectrum dues totalling nearly Rs 13,000 crore coming up for payment in the first half of 2022. They added that the fund raising will further strengthen Airtel's balance sheet, and combined with a financially strong Reliance Jio, will add to the woes of cash-strapped Vodafone Idea, who could cede revenue and subscriber market share even faster.
\u201cWe wish to inform you that a meeting of the board of directors of the company is scheduled on Sunday, August 29, 2021, to inter-alia consider various capital raising options through equity or equity linked or debt instruments or any combination there-of, as the board may deem appropriate,\u201d Airtel said in a notice to the stock exchanges on Wednesday.
<\/div><\/div>The notice came after market hours. Shares of the telco closed 1.2% lower at Rs 612.45 on the BSE Wednesday, giving it a market cap of Rs 3.36 lakh crore.
The carrier\u2019s stock hit an all-time intra-day high of Rs 644 on August 16, on a positive outlook. Analysts said its fiscal first quarter results reflected healthy 4G additions, revenue mix improvement, highest-ever home broadband subscriber additions and healthy free cash flow (FCF) generation, as well as consistent subscriber and revenue market share gains.
Most brokerages have a \u2018Buy\u2019 rating on the stock. CLSA, for example, has a target price of Rs 730, Goldman Sachs has one of Rs 675 and Jefferies Rs 685.
Bharti Chairman Sunil Mittal<\/a> in June said that Airtel, with nearly 351 million mobile phone, broadband and DTH subscribers in India, has already raised $12 billion in the past 24 months. But \"...one can never say never to raising fresh capital, (though) there is nothing immediately\u201d in the pipeline.
\"Bharti's latest fundraise plans appear to be triggered by upcoming AGR (adjusted gross revenue) and spectrum payment obligations, even though the company is profitable,\u201d said an analyst at leading global brokerage, who did not wish to be named.
The carrier\u2019s stock hit an all-time intra-day high of Rs 644 on August 16, on a positive outlook. Analysts said its fiscal first quarter results reflected healthy 4G additions, revenue mix improvement, highest-ever home broadband subscriber additions and healthy free cash flow (FCF) generation, as well as consistent subscriber and revenue market share gains.
Most brokerages have a \u2018Buy\u2019 rating on the stock. CLSA, for example, has a target price of Rs 730, Goldman Sachs has one of Rs 675 and Jefferies Rs 685.
Bharti Chairman Sunil Mittal<\/a> in June said that Airtel, with nearly 351 million mobile phone, broadband and DTH subscribers in India, has already raised $12 billion in the past 24 months. But \"...one can never say never to raising fresh capital, (though) there is nothing immediately\u201d in the pipeline.
\"Bharti's latest fundraise plans appear to be triggered by upcoming AGR (adjusted gross revenue) and spectrum payment obligations, even though the company is profitable,\u201d said an analyst at leading global brokerage, who did not wish to be named.
<\/div><\/div>He said that there is a perception that the Airtel stock is attractively priced, and thus, the telco could do a quick fundraise via a private placement to strategic investors. \u201cBut then markets tend to be more comfortable with funding via debt instruments and are wary of equity dilutions\".
The company\u2019s net debt increased at June-end to around Rs 1.6 lakh crore from around Rs 1.5 lakh crore in the previous quarter, and its net debt to Ebidta ratio was at around three times, deemed \u2018comfortable\u2019 by industry<\/a> analysts.
Goldman Sachs estimates Airtel needs to pay Rs 4,100 crore in AGR dues by March 2022, and also has spectrum payments worth Rs 8,500 crore coming up in FY23. Besides, Airtel needs to aggressively keep investing in expanding and deepening its 4G network as it is involved in a bitter fight with rival Reliance Jio for financially struggling Vodafone Idea\u2019s subscribers.
It added that the telco is likely to face \u201can annual cash shortfall of at least Rs 2,000 crore ($270 million) if tariffs stay at current levels,\u201d in FY23.
The carrier also needs to financially prepare for the next auctions\u2014likely in early 2022\u2014which will involve the sale of 5G airwaves, followed by rolling out of the next gen services.
The company\u2019s net debt increased at June-end to around Rs 1.6 lakh crore from around Rs 1.5 lakh crore in the previous quarter, and its net debt to Ebidta ratio was at around three times, deemed \u2018comfortable\u2019 by industry<\/a> analysts.
Goldman Sachs estimates Airtel needs to pay Rs 4,100 crore in AGR dues by March 2022, and also has spectrum payments worth Rs 8,500 crore coming up in FY23. Besides, Airtel needs to aggressively keep investing in expanding and deepening its 4G network as it is involved in a bitter fight with rival Reliance Jio for financially struggling Vodafone Idea\u2019s subscribers.
It added that the telco is likely to face \u201can annual cash shortfall of at least Rs 2,000 crore ($270 million) if tariffs stay at current levels,\u201d in FY23.
The carrier also needs to financially prepare for the next auctions\u2014likely in early 2022\u2014which will involve the sale of 5G airwaves, followed by rolling out of the next gen services.