Airtel to raise ₹ 32,000 cr

Telecom major to go for a mix of rights issue, perpetual bonds

In a filing with the stock exchanges on Thursday, Bharti Airtel said it will raise up to ₹32,000 crore through a mix of rights issuances and perpetual bonds with equity credit.

The company said its board has approved raising ₹32,000 crore — ₹25,000 crore through a rights issue and up to ₹7,000 crore through perpetual bonds with equity credit.

The plan is in line with the recommendations of the Special Committee of Directors for Fund Raising.

According to the board, the company will issue fully paid-up equity shares for up to ₹ 25,000 crore by way of a rights issue to eligible equity shareholders as on the record date.