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The Rs 21,000 Crore Rights Issue By Bharti Airtel

News In Brief Business and Economy

The Rs 21,000 Crore Rights Issue By Bharti Airtel

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News Synopsis

In a report to the BSE on Thursday, Bharti Airtel said that the rights offer to raise to Rs 20,987.39 crore has been subscribed 1.44 times, with both the public and the promoter/promoter group outbidding each other. On August 29, Bharti Airtel's board of directors approved a Rs 21,000 crore rights offer for Rs 535 per share, including a Rs 230 premium. The firm had designated September 28 as the record date for rights entitlement.

In a regulatory firm, the company said that the applications received in the rights issue are the subjects for verifying and clearing payments, and the finalization will be done on the basis of allotment.

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