Bharti Airtel gets Sebi’s approval for Rs 25,000 crore rights issue

Telecom operator Bharti Airtel has received market regulator the Securities and Exchange Board of India’s (Sebi’s) approval to raise up to Rs 25,000 crore through rights issue, according to sources.

The board of the company had approved the rights issue proposal in February.

Sebi has given green signal to the rights issue of Bharti Airtel, the sources said.

When contacted, Bharti Airtel spokesperson said, “the company is in process of obtaining requisite approvals and shall make necessary announcements at an appropriate time”.

The board has earlier approved the rights issue to raise up to Rs 25,000 crore through issuance of fully paid up shares at a price of Rs 220 per share, and an additional Rs 7,000 crore via foreign currency perpetual bond issue.