Bharti Airtel Proceed With An Initial Public Offering For Admission

Bharti Airtel's subsidiary IPO: Airtel Africa, a subsidiary of Bharti Airtel proceed with an initial public offering for admission and listing of its shares on the main market of the London Stock Exchange.

The offer is targeted to raise USD 750 million and will be used to reduce the net debt. Further, Airtel Africa is also considering a listing of its shares on the Nigerian Stock Exchange.

ICICI Bank and Axis Bank shares fell around a percent each intraday on June 4 after global rating agency Fitch downgraded both by a notch saying financial health of the private sector banks has weakened.

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