Bharti Airtel Board Approves Up To Rs 21,000 Crore Rights Issue


Airtel mentioned that the “board approved the issuance of equity shares of the face value of Rs 5 each of the company on rights basis to eligible equity shareholders of the company as on the record date (to be notified later), of an issue size of up to Rs 21,000 crores”.

Telecom operator Bharti Airtel’s board on Sunday accepted as much as Rs 21,000 crore rights problem, based on a regulatory submitting. The Board, which met to contemplate the corporate’s capital elevating plans, cleared the rights problem worth of Rs 535 per totally paid-up fairness share, together with a premium of Rs 530 per fairness share. 

In a BSE submitting, Airtel mentioned that the “board approved the issuance of equity shares of the face value of Rs 5 each of the company on rights basis to eligible equity shareholders of the company as on the record date (to be notified later), of an issue size of up to Rs 21,000 crores”.

The rights entitlement ratio entails 1 fairness share for each 14 fairness shares held by eligible shareholders as on the file date. The phrases of cost of problem worth, envisage 25 p.c on utility and steadiness in two extra extra calls as could also be determined by the Board or committee of the Board primarily based on the corporate’s necessities inside an total time-horizon of 36 months, Airtel mentioned.

“The promoter and promoter group of the company would collectively subscribe to the full extent of their aggregate rights entitlement,” it mentioned including “they will also subscribe to any unsubscribed shares in the issue”.

The board has constituted a ‘Special Committee of Directors’ to resolve the opposite phrases and circumstances of the problem together with the problem interval and the file date.

The Board of Directors on the assembly reviewed the business state of affairs, enterprise setting, monetary and enterprise technique of the corporate and accepted the plan to boost additional capital, Airtel mentioned.

(PTI)




Leave a Reply

Your email address will not be published. Required fields are marked *