How Investment Banks Helped: • Rights Issue
• Rights Issue: In 2021, Bharti Airtel launched a ₹21,000 crore (~$3 billion) rights issue, in which JP Morgan, Barclays, Standard Chartered, and UBS were joint lead managers. This capital raised was partly allocated toward Airtel’s 5G infrastructure investments, including spectrum acquisition and equipment upgrades.
• Debt Financing: Investment banks also assisted Bharti Airtel in raising funds through bond issuance and structured debt instruments, which helped the company acquire spectrum and invest in its 5G network.