Airtel takes QIP, FCCB route to raise $3bn to pay DoT

As the January 23 deadline for payment to the Department of Telecom (DoT) approaches, Bharti Airtel on Wednesday launched a $2 billion Qualified Institutional Placement (QIP) at an indicative issue floor price of Rs 435 per share and the foreign currency convertible bonds (FCCBs) to raise another up to $1 billion.