Bharti Airtel - Raising Funds To Fuel Future Growth: Axis Securities
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Axis Securities Report
Bharti Airtel Ltd.’s board has approved rights issue of up to Rs 21,000 crore with the following terms of the Issue:
rights issue price: Rs 535/- per fully paid-up equity share (including a premium of Rs 530/- per equity share).
terms of payment of issue price: 25% on application and balance in two more additional calls based on Bharti Airtel’s requirements within an overall time horizon of 36 months.
rights entitlement ratio: one equity share for every 14 equity shares held by eligible shareholders as on the record date.
the promoter and promoter group will collectively subscribe to the full extent of their aggregate rights entitlement. In addition, they will also subscribe to any unsubscribed shares in the Issue.
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