Airtel’s Rs 25,000 crore rights issue to open on May 3

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New Delhi | Published: April 20, 2019 4:46:00 AM

Bharti Airtel has already fixed April 24 as the record date to determine shareholders' eligibility to apply for the equity shares.

airtel, bharti airtel, telecom sector, telecom industryThe company said the capital infusion will help it continue investments in future rollouts to build large network capacity

Bharti Airtel’s rights issue of Rs 25,000 crore will open on May 3 and close on May 17, the company said in a regulatory filing on Friday.

Bharti Airtel has already fixed April 24 as the record date to determine shareholders’ eligibility to apply for the equity shares.

Airtel has announced the rights issue to raise up to Rs 25,000 crore through issuance of fully paid-up shares at a price of Rs 220 per share, and additional Rs 7,000 crore through a foreign currency perpetual bond issue.

The company said the capital infusion will help it continue investments in future rollouts to build large network capacity and create content and technology partnerships to ensure the strong customer experience.

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Last month, Bharti Airtel received commitment from its single-largest shareholder Singtel, promoters, and GIC Singapore to participate in the rights issue.

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