Bharti Airtel has cleared Rs 6,796 crore, or over 10 per cent, of its debt by using the equivalent sum of amount it received by selling 5 per cent
stake to Qatar Foundation Endowment last month.
The telecom company had reported a net debt of Rs 63,839.5 crore as on March 31, 2013.
The company in a statement on Monday said "it has retired equivalent debt from the proceeds (Rs 6,796 crore) of the preferential allotment in June 2013 of 5 per cent equity shares in Bharti Airtel at the rate of Rs 340 per share to Qatar Foundation Endowment".
"This significant debt reduction will result in an improvement in the capital structure and balance sheet leverage for the Company," the company said.
Shares of Bharti Airtel were trading marginally higher at Rs 297 in afternoon trade at the Bombay Stock Exchange.
With inputs from PTI 
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