Advertisement
Sunday, Dec 05, 2021
Outlook.com
Outlook.com

Airtel Garners Over Rs 5,200 Crore From First Tranche Of payment In Rights Issue

The applicants paid Rs 133.75 per share on application, with the balance sum to be paid in two more additional calls as may be decided by the board.

Airtel Garners Over Rs 5,200 Crore From First Tranche Of payment In Rights Issue
Airtel Garners Over Rs 5,200 Crore From First Tranche Of payment In Rights Issue
outlookindia.com
2021-10-28T09:30:59+05:30

Bharti Airtel is estimated to have garnered over Rs 5,200 crore from the first round of payment in its recently-concluded rights issue, as the telco's special committee approved an allotment of 39.2 crore equity shares to eligible applicants.

The applicants paid Rs 133.75 per share on application, with the balance sum to be paid in two more additional calls as may be decided by the board, the company said in a regulatory filing.

“the special committee of directors for the rights issue, at its meeting held today...approved the allotment of 392,287,662 rights equity shares to the eligible applicants, with Rs 133.75 paid on application and balance to be paid in two more additional calls," the filing said.

This implies that Airtel has raised an estimated Rs 5,243 crore from the initial tranche.

Pursuant to the allotment, the paid-up equity share capital of the company has also increased.

“the paid-up equity share capital of the company has increased from Rs 27,460.14 million to 27,950.49 million consisting of 5,492,027,268 fully paid-up equity shares of Rs 5 each and 392,287,662 partly paid-up equity shares (Rs. 1.25 partly paid-up)," it added.

Bharti Airtel's about Rs 21,000 crore rights issue had opened on October 5 and closed on October 21, 2021, and was oversubscribed.

(With PTI Inputs)

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Omicron In India: Planning To Travel? Five Things You Must Do

Omicron In India: Planning To Travel? Five Things You Must Do

As the threat due to the Omicron variant of the coronavirus rises in India, public health experts advise travellers to follow five steps to avoid contracting Covid-19.

Kashmir: Tosa Maidan Blast Victims Still Await Compensation

Kashmir: Tosa Maidan Blast Victims Still Await Compensation

While the Army and Airforce vacated the Tosa Maidan meadow as a firing range back in 2014, the victims of the deadly explosions are yet to receive their compensation.

2nd Test: Ravi Ashwin's 3/27 Puts India On Top At Day 3 Stumps

2nd Test: Ravi Ashwin's 3/27 Puts India On Top At Day 3 Stumps

At the end of Day 3, New Zealand are struggling at 140/5 with 400 more runs to win the second Test in Mumbai. Daryl Mitchell scored a fighting 60. Catch the IND vs NZ highlights here.

World Soil Day 2021: Why Is Soil Conservation Important?

World Soil Day 2021: Why Is Soil Conservation Important?

World Soil Day was first celebrated on December 5th 2014, 7 years ago. This year's theme is, 'Halt soil salinization, boost soil productivity'.

Advertisement