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不断上升的债务导致发起人稀释持股:苏尼尔•米塔尔
他补充说，Airtel通过配股筹集2100亿卢比的举措将帮助该电信公司抓住增长机会，5G将于2022年登陆印度，其数字业务也将不断增长。
加尔各答:Bharti Airtel主席Sunil Bharti Mittal发起人不愿意选择减持，但该电信公司的创始人被迫减持股份，因为该公司在调整后总营收(AGR)会费和在竞争激烈的市场上保持竞争力的需要刺激下，债务激增，需要资金。
他补充说，Airtel通过配股筹集2100亿卢比的举措将帮助该电信公司抓住增长机会，5G将于2022年登陆印度，其数字业务也将不断增长。
“没有哪个发起人是自愿减持股份的行业米塔尔在投资者电话会议上表示:“过去4 - 5年里，该公司经历了地狱般的生活，多达8 - 9家运营商消失了，一家非常强大的联合运营商正在苦苦挣扎。”
“面对这一切，你会相信我们在适当的时候筹集了更多资本，而不是在没有可用资本的时候追逐资本，从而稀释了股权。”
发起人集团-米塔尔家族和新加坡的新加坡电信-拥有电信公司近56%的股份。米塔尔家族直接和间接持有24.13%，而新加坡电信持有31.72%。其余的由公众持有。自2019年5月以来，Airtel已通过在印度和非洲的股权、债务、股份出售和资产出售筹集了98亿美元，这导致发起人集团稀释了其持股。
即将到来的配股发行将进一步稀释发起人集团7%的股权，发起人和发起人集团承诺集体认购其全部权利，或按其持股比例认购。
新加坡电信和米塔尔将分别出资9亿美元和7亿美元瑞士信贷(Credit Suisse)．
"如果Airtel最近的融资导致发起人持股比例有所下降，我们对此没有意见，" Mittal表示，并称他认为"市场没有理由感到惊慌。"
在他发表讲话的前一天，Airtel宣布计划通过配股向现有投资者出售股票，筹集至多2100亿卢比。
筹集资金帮助Airtel推动盈利增长;在主要城市推出5G: Sunil Mittal
他说，Airtel打算尽早在主要城市推出5G网络，以便能够为其客户，特别是重度用户和工业应用提供新时代网络的好处。
资产货币化
Mittal表示，在Indus的股份、Airtel的纤维资产和房地产资产中，都有更多的变现机会，这些都将在"正确的时间、正确的价格和正确的估值"完成。
关于Bharti数字资产可能的货币化，米塔尔表示，任何潜在的联盟或向关键战略全球投资者提供股权，都只会通过母公司Airtel进行。他说:“数字资产不能被分割，需要保存在母船之下，就像Airtel一样。”
米塔尔的讲话背景是最近媒体对美国搜索巨头的猜测谷歌可能会对Airtel进行大量投资，两家公司的高管正在研究潜在大型联盟的细节。
的Bharti集团正在重组其数字和电信资产，以便能够创造更多的货币化机会。在新的公司结构下，Bharti Airtel将持有所有数字资产以及电信业务，这些业务将被分拆到一个新成立的部门Airtel Ltd.。
周一，在印度证交所，Airtel的股票收于620.35卢比，上涨4.4%。
杰富瑞(Jefferies)在一份报告中表示:“此次(配股)发行将使每股收益(EPS)增加，因为所筹集的现金收益率可能高于我们对23财年每股收益预测中发行所隐含的3.5%的收益收益率。”
不过，该公司补充称，这一问题也反映出该公司独立业务的现金流疲弱。
该经纪公司表示:“我们对Bharti独立现金流的分析表明，尽管ebitda大幅上升，但Bharti每年390亿卢比的AGR付款以及从23财年开始的770亿卢比的频谱付款，可能会使FCF(自由现金流)在22-23财年受到限制。”
Airtel将通过配股筹集2100亿卢比
根据发行价格支付的发行条款，认购人需要在申请时支付25%，其余部分则需在董事会/董事会委员会根据公司的要求不时决定的两次额外电话中支付，总期限为36个月。
增长的燃料
米塔尔表示，虽然Airtel有足够的资金支持目前的业务，但它需要额外的资金。
米塔尔表示，该公司意识到"一个巨大的增长机会正盯着它，需要在常规业务之外加速发展"，这推动了其筹集股本的需求。“在这方面的任何延误都将对这家公司的命运造成不利影响。”
米塔尔表示，Airtel在印度拥有最大的频谱池，有了额外的资金，可以轻松管理任何潜在的数百万新客户的涌入和数据流量的激增，暗指该行业将沦为双头垄断的情况。
他说:“如果有更多的客户突然加入Airtel的行列，我们就能通过我们的光纤和移动网络把他们带进来……但这次(即将到来的)2100亿卢比的融资给了我们所需的杠杆，我们可以感觉到，增长额外里程的燃料就在眼前。”
米塔尔没有直接评论Vi的生存机会，重申该国需要维持其三家私营企业的市场结构。
Bharti Airtel董事长表示，电信行业可能“在关税战和ARPU(每用户平均收入)收缩方面遭遇了最糟糕的情况”，并补充说，到22财年末，行业ARPU肯定会上升到200卢比。他说，Airtel已经率先将入门级预付资费提高到79卢比，此举“在市场上受到了好评”。
进一步提高到99卢比是有道理的。米塔尔说:“问题是什么时候，因为我们也受到市场力量的约束，不能在开始伤害自己的时候成为一个异类。”
Bharti Airtel董事长澄清说，即将到来的配股收益不会用于提高电信公司在Indus的股份。
Sunil Mittal: Airtel不会回避提高电信资费
米塔尔是在Airtel董事会批准以每股535卢比的价格通过配股筹集2100亿卢比资金的一天后与投资者发表讲话的。他说，最近后付费和预付部分的关税上调受到了良好的反响。
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<\/figure>Kolkata: Bharti Airtel<\/a> chairman Sunil Bharti Mittal<\/a> said promoters don\u2019t like reducing holdings by choice, but the telco's founders were forced to lower their stake as the company needed capital with its debt surging, stung by a mix of adjusted gross revenue (AGR) dues and the need to be competitive in a cut-throat market.
He added that Airtel\u2019s move to raise Rs 21,000 crore through a rights issue would help the telco tap growth opportunities, with 5G set to hit India in 2022 and its growing digital business.
\u201cNo promoter goes down in his shareholding by choice\u2026 this industry<\/a> has seen hell for the last four-five years, as many as eight to nine operators have disappeared and a very strong combined operator is struggling,\u201d Mittal said on an investor call.
<\/div><\/div>7% dilution in promoter holding<\/strong>
\u201cIn the face of all that, you will give us credit that we did dilution for raising more capital in good time, rather than chasing capital when none would be available.\u201d
The promoter group \u2014 the Mittal family and Singapore\u2019s SingTel \u2014 own nearly 56% of the telco. The Mittal family directly and indirectly owns 24.13%, while SingTel holds 31.72%. The rest is held by the public. Since May 2019, Airtel has raised $9.8 billion via equity, debt, stake sales in units and assets sales in India and Africa, which has resulted in the promoter group diluting its holdings.
The upcoming rights issue is set to dilute the promoter group stake by a further 7%, with the promoter and the promoter group committing to collectively subscribe to the full extent of their aggregate rights entitlement, or in proportion to their holding.
The issue would require Singtel and the Mittals to contribute $0.9 billion and $0.7 billion, respectively, said Credit Suisse<\/a>.
\u201cIf Airtel\u2019s latest capital raise has resulted in some drop in the promoter level shareholding, we are fine with that,\u201d Mittal said, adding that he sees \u201cno reason for markets to be alarmed.\u201d
He was speaking a day after Airtel announced plans to raise up to Rs 21,000 crore by selling shares to existing investors in a rights issue.
\u201cIn the face of all that, you will give us credit that we did dilution for raising more capital in good time, rather than chasing capital when none would be available.\u201d
The promoter group \u2014 the Mittal family and Singapore\u2019s SingTel \u2014 own nearly 56% of the telco. The Mittal family directly and indirectly owns 24.13%, while SingTel holds 31.72%. The rest is held by the public. Since May 2019, Airtel has raised $9.8 billion via equity, debt, stake sales in units and assets sales in India and Africa, which has resulted in the promoter group diluting its holdings.
The upcoming rights issue is set to dilute the promoter group stake by a further 7%, with the promoter and the promoter group committing to collectively subscribe to the full extent of their aggregate rights entitlement, or in proportion to their holding.
The issue would require Singtel and the Mittals to contribute $0.9 billion and $0.7 billion, respectively, said Credit Suisse<\/a>.
\u201cIf Airtel\u2019s latest capital raise has resulted in some drop in the promoter level shareholding, we are fine with that,\u201d Mittal said, adding that he sees \u201cno reason for markets to be alarmed.\u201d
He was speaking a day after Airtel announced plans to raise up to Rs 21,000 crore by selling shares to existing investors in a rights issue.
<\/div><\/div>As of end-June, the company had net debt of around Rs1.6 lakh crore. At three times operating profit, this was deemed \u2018comfortable\u2019 by industry analysts. Mittal said he would like Airtel\u2019s debt to reduce to two times the operating profit.