Airtel to raise Rs32000-cr through equity and bond

The telecom major Bharti Airtel Limited in its board has approved the to raise upto Rs32,000 crore through equity and bond sales. Accordingly, the company plans to Rs25,000 crore through rights issuance and Rs7,000 crore through perpetual bond denominated in foreign currency with equity credit. 

Further, the Company approved the following terms of the Rights Issue: Rights Issue Price is at Rs220 per fully paid equity share, including a premium of Rs215 per fully paid equity share over face value of Rs5 per share and entitlement ratio fixed at 19 shares for every 67 shares held by entitled shareholders as on the record date.

On Friday, the stock of Bharti Airtel Limited closed at Rs308 per share, down by Rs10.05 or 3.16-percent on bourses.

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