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Bharti Airtel to hold investor call on August 30 post Rs 21,000 crore rights issue approval by board

The investor's call will be chaired by Bharti Airtel Chairman Sunil Bharti Mittal at 2:30-3:30 pm.

August 29, 2021 / 06:58 PM IST
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Telecom major Bharti Airtel on August 29 announced that it will hold investor call on August 30, following the firm's board approval on Rs 21,000 crore rights issue, reported CNBC-TV18.

The investor's call will be chaired by Bharti Airtel Chairman Sunil Bharti Mittal at 2:30-3:30 pm.

Earlier in the day, the telco announced that its Board of Directors have approved to raise capital up to Rs 21,000 crore by issuing equity shares of face value of Rs 5 each of the company.

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The right issue price to be set at 535 per fully paid-up equity share, including a premium of Rs 530 per equity share, Bharti Airtel said in a regulatory filing on August 29.

Among other details, Bharti Airtel said that one equity share for every 14 equity shares held by eligible shareholders as on the record date.

The telco board of directors also constituted a 'special committee of directors' to decide the other terms and conditions of the issue including issue period and the record date.

The telecom companies recently faced a setback on the issue involving adjusted gross revenue (AGR)-related dues, as the Supreme Court dismissed the applications which sought re-calculation of dues.
Moneycontrol News
first published: Aug 29, 2021 06:47 pm
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