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Last Updated : Apr 08, 2019 07:08 PM IST | Source: Moneycontrol.com

Bharti Airtel gets SEBI nod for Rs 24,000 crore rights issue

Last week, Airtel's board had approved plans to raise Rs 32,000 crore through equity and bond sales.

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Bharti Airtel has received approval from the Securities and Exchange Board of India (SEBI) for a rights approval worth Rs 24,000 crore.

"SEBI has given its nod for the rights issue" a senior government official said on April 8.

The promoter group of Bharti Airtel, including the Bharti Group and SingTel, will subscribe to Rs 11,785.7 crore in the Rs 25,000-crore rights issue while Singapore government's investment arm GIC Pvt. Ltd will be subscribing to shares worth Rs 5,000 crore.

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Last week, Airtel's board had approved plans to raise Rs 32,000 crore through equity and bond sales. Of this, Rs 25,000 crore will be raised by way of a rights issue and another Rs 7,000 crore will be mobilised through foreign currency perpetual bonds.

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First Published on Apr 8, 2019 06:47 pm
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