Bharti Airtel Rights Issue opened on 5th Oct 2021. The Rights Issue is priced at Rs 535 per share; 25% of the rights price is payable at the time of application and the rest 75% would be payable in the subsequent one or two calls.
Bharti Airtel Right Issue details are as below:
|Rights Offer||Upto 39.23 crore equity shares amounting to Rs 20987.39 crore|
|Price Band||Rs 535 per rights equity share
Application money- Rs 133.75 per share
Call money- Rs 401.25 per share
|Rights Issue opens on||Oct 5, 2021|
|Last date for market renunciation||Oct 14, 2021|
|Issue closes on||Oct 21, 2021|
|Listing on||BSE and NSE|
|BRLM’s||Axis Capital, JP Morgan, Citigroup, Kotak, BNP Paribas, BoFA Securities, Goldman Sachs, HDFC Bank, ICICI Securities, JM Financials,|
Objects of the Rights Issue
- Repayment of certain borrowings including deferred payment term liabilities to DoT (Rs 15925.41 crore)
- General corporate purposes- Rs 5025.52 crore
The record date of the Issue was September 28, 2021 and temporary Demat shares (as per the rights ratio)were allotted to the shareholders of Bharti Airtel. The shareholders can buy or sell the REs between October 5 and October 14 on a trade-to-trade basis on a special trading window. The rights entitlement can be sold on the special window if the shareholders don’t want to subscribe. The Rights not subscribed or renounced would lapse by 21st October 2021.