Bharti Airtel promoters, GIC to subscribe half of ₹32,000 cr rights issue

Bharti Airtel, which is planning to raise up to Rs 32,000 crore through a mix of rights and perpetual bond issues, intends to use the proceeds to further bolster its capital structure.

The promoters will subscribe to their entire rights entitlement of Rs 16,785.7 crore, with promoters subscribing to Rs 11,785.7 crore and GIC subscribing to Rs 5,000 crore by way of renouncement in their favour, the company said in a statement.

The promoters also reserves the right to subscribe either itself or through investors for additional shares in the Issue, including in the event of under subscription by public, in accordance with the applicable laws.