Bharti Airtel trades firm as stock turns ex-date for rights issue

Bharti Airtel shares were quoting firm, up 1 per cent, at Rs 325 on the BSE in early morning deal as the stock turns ex-date for rights issue today (on Tuesday).

On February 28, Bharti Airtel had announced rights issue to raise up to Rs 25,000 crore through issuance of fully paid up shares and an additional Rs 7,000 crore via foreign currency perpetual bond issue. The rights issue will be raised in the ratio of 19:67 (i.e., 19 shares for every 67 shares held) at a price of Rs 220 per share.

The Committee at its meeting held on April 10, had fixed April 24 as the record date for the purpose of determining the shareholders eligible to apply for the equity shares in the rights issue.

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