Mumbai : Bharti Airtel is all set of open its rights issue of Rs 25,000 crore on May 3 and it will close on May 17. The company has announced rights issue to raise up to Rs 25,000 crore through issuance of fully paid-up shares at a price of Rs 220 per share, and additional Rs 7,000 crore through a foreign currency perpetual bond issue. The company has already fixed April 24 as the ‘record date’ to determine shareholders’ eligibility to apply for the equity shares.
This capital infusion will help the company to continue investments in future roll-outs to build large network capacity and create content and technology partnerships to ensure the strong customer experience.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.