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Airtel Fixes April 24 As Record Date For Rs. 25,000 Crore Rights Issue

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For determining shareholders who can avail he rights issue offer, the telecom major has fixed April 24 as the record date for the company's rights issue worth Rs. 25,000 crore.

Airtel at a meeting on Wednesday said the committee" has fixed the record date for the purpose of determining the shareholders eligible to apply for the equity shares in the rights issue on Wednesday, April 24, 2019".

Airtel Fixes April 24 As Record Date For Rs. 25,000 Crore Rights Issue
 

Already the company has received market regulator's go-ahead for the offer. The company's board in February approved the rights issue offer.

Airtel has announced a rights issue to raise up to ₹25,000 crore through issuance of fully paid up shares at a price of ₹220 per share. Also, the company will aggregate another Rs. 7,000 crore via foreign currency perpetual bond issue.

For the rationale of the issue, the company plans to use proceeds from the issue towards future roll-outs for building large network capacity as well as establish technology and content tie-ups to enable better customer experience.

GoodReturns.in

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