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On Monday, Shares of Bharti Airtel gained 1.9 per cent and traded at Rs 605.5 on the BSE in the intra-day trade after the telecom services provider announced a Rs 21,000-crore rights issue. The stock hit an intra-day low of Rs 591.10 after opening at Rs 597.75. In comparison, the S&P BSE Sensex was up 0.69 per cent at 56,513 points at 09:35 am.
“The rights issue is priced at Rs 535 per fully paid-up equity share, including a premium of Rs 530. Further, the rights entitlement ratio entails one equity share for every 14 equity shares held by eligible shareholders as on the record date,” Bharti Airtel said in an exchange filing on Sunday, August 29, 2021.
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As far as terms of payment of the issue price are concerned, 25 per cent is to be paid on application, balance in two more additional calls as may be decided by the board or committee of the board, based on the company’s requirements within a broad time horizon of 36 months. The promoter and promoter group of the company will collectively subscribe to the full extent of their aggregate rights entitlement along with any unsubscribed shares in the issue.
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