Bharti Airtel’s mega fund raising: Sunil Mittal firm to launch Rs 25,000 crore rights issue of shares

Amid hieghtened competition from billionaire Mukesh Ambani-led Reliance Jio, India’s largest telco Bharti Airtel has approved a fund raising of up to Rs 32,000-crore, which. Bharti Airtel’s board has approaved the fund raising totalling to up to Rs 32,000 crore, out of which up to Rs 25,000 crores will be through rights issue; and Perpetual Bond with equity credit up to Rs 7000 crores.

According to the firm’s exchange release, the rights issue is priced at Rs 220 per fully paid equity share (including a premium of Rs. 215 per fully paid equity share over face value of Rs. 5 per share); and the rights entitlement ratio is 19 shares for every 67 shares held by eligible shareholders as on the record date.