Read more about Bharti Airtel board approves Rs 21,000 crore rights issue on Business Standard. Fund raising mainly to make payments towards AGR-related liabilities
The board of on Sunday approved fund-raising to the tune of Rs 21,000 crore, mainly to make payments towards adjusted gross revenue (AGR)-related liabilities due in 2021-22 (FY22). The board approved the issuance of equity shares of a face value of about 5 each of the company on a rights basis to eligible equity shareholders. The issue size is up to Rs 21,000 crore, said an official statement by Airtel. The rights entitlement ratio entails one equity share for every 14 equity shares held by eligible shareholders as on the record date, it added. As far as terms of payment of the issue price are concerned,25 per cent is to be paid on application, balance in two more additional calls as may be decided by the board or committee of the board, based on the company’s requirements within an overall time horizon of 36 months. Airtel’s stock ended 1.
