Shares of Bharti Airtel fell about 2 percent on Thursday ahead of the company's board meet to finalise fundraising plans.

The fund raising plan comes as the telecoms company is looking to reduce its debt and finance costs besides bolstering cash flows following the arrival of Reliance Jio in to the market.

According to the Economic Times report, the firm is looking to raise around Rs 15,000 crore through issue of fresh shares in the current fiscal.

Airtel is also ‘examining the options of either a rights issue to existing shareholders or private placement to institutional investors and promoters,' said the report citing people familiar with the development.

At 10:45AM, Bharti Airtel shares were down 1.8 percent to Rs 316 on the Bombay Stock Exchange.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

Have you signed up for Primo, our daily newsletter? It has all the stories and data on the market, business, economy and tech that you need to know.