Airtel says promoters will take part in Rs 25,000-cr rights issue

Bharti Airtel’s board of directors have approved a rights issue to the eligible shareholders for an amount up to Rs 25,000 crore, the company informed stock exchanges on Thursday. This is part of the $4.57 billion capital-infusion plan to.

Promoters to subscribe to full extent of rights entitlement amongst themselves except part renunciation of 227.3 million shares in favour of GIC, the company said.

The Airtel Board has approved a capital infusion of Rs 32,000 crore through a rights issuance of up to Rs25,000 crore of fully paid-up equity shares. Another Rs 7,000 crore will be mobilised through foreign currency perpetual bonds.