Big fund houses chip in as Airtel rights issue is oversubscribed

Kolkata / Mumbai: Lion Meadow Investment, Mirae Asset Large Cap Fund, EuroPacific Growth Fund, SBI Life Insurance, LIC, ICICI Prudential MF, SBI MF and Nippon MF are among the big-ticket fund houses that have bid for shares in Bharti Airtel’s near Rs 21,000-crore rights issue that closed Thursday, three people with direct knowledge told ET.

“Based on preliminary information received, the rights issue has been subscribed by approx. 1.44 times, overbid by both public and promoter/ promoter group,” Bharti Airtel said in a BSE filing late Thursday. It did not disclose the investor names.