Bharti Airtel’s Rs 21,000 crore rights issue will begin on October 5, the company said in a document filed with the stock exchanges. The capital increase of major telecom will close on October 21, 2021. A total of 392,287,662 shares will be offered as part of the capital increase, decided the special administrative committee of the company for the increase. of the company’s capital at its meeting on Wednesday, September 22. 2021.
The rights shares will be issued at a price of Rs 535 per fully paid share, including a par value of Rs 5 and a premium of Rs 530 per share. Eligible investors will receive one share for every 14 shares held on the registration date. The registration date to determine the eligibility of shareholders to participate in the capital increase has been set for September 28.
Bharti Airtel is the second largest telecommunications company in the Indian telecommunications market, with a mobile user base of 35.2 crore. It added 38.1 lakh of wireless subscribers in June, according to subscriber data recently released by the telecommunications regulator, Telecom Regulatory Authority of India.
A rights issue or rights offering refers to the rights offered by a company to its existing shareholders to purchase additional securities.