Bharti Airtel’s Rights Issue Subscription process will start on Oct 5
Indian multinational telecommunications service company plans to offer rights issue in the coming month. Bharti Airtel’s public issue will be available for subscription on October 5, 2021. The issue will close on October 21.
According to the source, the firm plans to raise around Rs. 21,000 crores. It will use half of the raised funds to roll out 5G. On the other hand, the company will use funds towards fiber backhaul and step up data center investments.
Board directors of Bharti Airtel approved the issue and offer around 39,22,87,662 rights equity shares with an aggregating up to Rs. 20,987 crores. Moreover, the firm fixed price at Rs. 535 per equity share, a 37% discount to the current price.
“AN EFFICIENT TELECOMMUNICATIONS NETWORK IS THE FOUNDATION UPON WHICH AN INFORMATION SOCIETY IS BUILT.”
Here is a great offer for investors who want to be an investor of Bharti Airtel. According to the source, the investors will have to pay around Rs. 133.75 per rights equity share. And, the remaining amount of Rs. 401.25 per eq share will collect in two separate installments.
In the last month, Airtel firm has announced the issuance plan of Rs. 21,000 crores rights issue. Today, the share price of Bharti Airtel remains trading with a 0.70% gain. It reached an intraday high price of Rs. 740.10.
It is the second-largest one in the Indian market. As of the market data, this telecom has maintained around 35.20 crores mobile users and 38.10 lakh wireless subscribers.