Bharti Airtel rights issue subscribed 1.44 times

NEW DELHI: Bharti Airtel rights issue to raise up to Rs 20,987.39 crore has been subscribed 1.44 times, the company said on Thursday.

“Based on preliminary information received, we wish to inform you that the rights issue has been subscribed approximately 1.44 times, overbid by both public and promoter/promoter group. The applications received in the rights issue are subject to verification and clearing payments, as applicable, and finalisation of the basis of allotment,” the company said in a regulatory filing.