Bharti Airtel’s Rs 25,000 crore rights issue opens on May 3; all you need to know

Telecom major Bharti Airtel’s Rs 25,000 crore rights issue will open on May 3, the company said in an exchange filing. It will close on May 17 as the board of directors,in a meeting held today, approved the rights issue. “Last date for receiving request for split application form (is) May 10, 2019,” the regulatory filing said.

The ‘record date’ to determine the eligibility of the shareholders has already been fixed by Sunil Bharti Mittal-led telco for April 24. The company plans to raise as much as Rs 25,000 crore through fully paid-up shares at Rs 220 a share. It also announced to raise an additional Rs 7,000 crore through issue of foreign currency perpetual bonds.

The firm plans to infuse the funds to invest in the future roll-outs to establish large network capacity. The company also plans to create content and technology partnerships for robust customer experience.

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