Business News

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

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






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.

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.



First Published on Apr 8, 2019 06:47 pm


































Source

Prakash Poojary
Business Analyst

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