Airtel board approves up to Rs 21,000 crore rights issue

Telecom operator Bharti Airtel’s board on Sunday approved up to Rs 21,000 crore rights issue, according to a regulatory filing.

The Board, which met to consider the company’s capital raising plans, cleared rights issue price of Rs 535 per fully paid-up equity share, including a premium of Rs 530 per equity share.

In a BSE filing, Airtel said that the “board approved the issuance of equity shares of face value of Rs 5 each of the company on rights basis to eligible equity shareholders of the company as on the record date (to be notified later), of an issue size of up to Rs 21,000 crores”.