India's second-largest telecom firm Bharti Airtel on Tuesday said its board has approved raising up to Rs 7,500 crore through debt instruments.

Also, the board has authorised the Special Committee of Directors to decide (based on market conditions) on all matters related to such issuance of securities, including finalisation and approval of terms and conditions, quantum of tranche, and the timing.

In a regulatory filing, Airtel said the Board of Directors in its meeting on Tuesday reviewed the company's routine financing and re-financing strategies, including any market maturities in due course.

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"It has granted enabling approvals for such re-financing vide debt instruments (as and when deemed appropriate) through issuance of secured/ unsecured, listed/unlisted non-convertible debt securities including debentures, bonds, etc. up to Rs 7,500 crores (or in equivalent foreign currency) in one or more tranches from time to time...subject to all applicable regulatory/ statutory approvals," the company said.

In January last week, internet giant Google said it's investing $1 billion in Bharti Airtel which includes equity investment as well as a corpus for potential commercial agreements, to be identified and agreed on mutually agreeable terms over the course of the next five years. Google made the investment as part of its Google for India Digitization Fund.

Out of the total investment, $300 million will go towards implementing commercial agreements, which will include investments in scaling Airtel's offerings that cover a range of devices to consumers via innovative affordability programs as well as other offerings aimed at accelerating access and digital inclusion across India's digital ecosystem.

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(Edited by : Jomy Jos Pullokaran)