Bharti Airtel promoters including GIC to subscribe to rights issue fully

MUMBAI: Bharti Airtel promoters including GIC, investment arm of the Singapore government, as well as its single largest shareholder Singtel have committed to fully subscribe to their rights component in the forthcoming Rs 32,000 crore fund rising plan that includes rights issue to the tune of Rs 25,000 crore rights issue, the company said on Thursday.

“The entire rights entitlement of Promoter and Promoter Group of approximately Rs 167,857 million will be subscribed by them and GIC, with Promoter and Promoter Group subscribing to Rs 117,857 million and GIC subscribing Rs 50,000 million (Rs 5,000 crore) by way of renouncement in their favour,” Bharti Airtel said.