Bharti Airtel’s Rs 25,000 crore rights issue opens on May 3

NEW DELHI: Telecom major Bharti Airtel on Friday said its Rs 25,000 crore rights issue will open on May 3 and close on May 17. Earlier, the company had fixed April 24 as the record date for the issue.

The telecom major had earlier this month received Sebi approval to raise the funds in a bid to boost its balance sheet and create necessary headroom for spending more on its 4G networks to take on Reliance Jio.

The Sunil Mittal-led firm has set April 24 as the record date for the issue. Bharti Airtel’s announcement followed peer Vodafone’s Rs 25,000 crore rights issue that opened on April 10.