Bharti Airtel gets SEBI nod to raise up to Rs 25,000 crore via rights issue
Last month, Airtel's board had approved plans to raise Rs 32,000 crore through equity and bond sales. The fund-raising plans entail rights issuance of up to Rs 25,000 crore and Perpetual Bond with equity credit of up to Rs 7,000 crore.
- Apr 8, 2019,
- Updated Apr 9, 2019 4:05 PM IST
Capital market regulator Securities and Exchange Board of India (Sebi) has approved Bharti Airtel's upcoming Rs 25,000 crore rights issue, suggested media report. This would allow Bharti Airtel, the country's second-largest telco, to raise funds to strengthen its balance sheet and get financial flexibility to take on Mukesh Ambani's Reliance Jio.
The SEBI has given green signal to the rights issue of Airtel, sources closed to the development told news agency PTI.
Last month, Airtel's board had approved plans to raise Rs 32,000 crore through equity and bond sales. The fund-raising plans entail rights issuance of up to Rs 25,000 crore and Perpetual Bond with equity credit of up to Rs 7,000 crore.
The company had also informed that its promoters would take part in rights issue plan with Singapore Telecommunications (Singtel) will be subscribing 17 crore shares in the Airtel's for a total consideration of Rs 3,750 crore, while Singapore government's investment arm GIC will be subscribing to shares worth Rs 5000 crore.
Capital market regulator Securities and Exchange Board of India (Sebi) has approved Bharti Airtel's upcoming Rs 25,000 crore rights issue, suggested media report. This would allow Bharti Airtel, the country's second-largest telco, to raise funds to strengthen its balance sheet and get financial flexibility to take on Mukesh Ambani's Reliance Jio.
The SEBI has given green signal to the rights issue of Airtel, sources closed to the development told news agency PTI.
Last month, Airtel's board had approved plans to raise Rs 32,000 crore through equity and bond sales. The fund-raising plans entail rights issuance of up to Rs 25,000 crore and Perpetual Bond with equity credit of up to Rs 7,000 crore.
The company had also informed that its promoters would take part in rights issue plan with Singapore Telecommunications (Singtel) will be subscribing 17 crore shares in the Airtel's for a total consideration of Rs 3,750 crore, while Singapore government's investment arm GIC will be subscribing to shares worth Rs 5000 crore.