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Bharti Airtel Fixes September 28 As Record Date For Its Rs. 21,000 Crore Rights Issue

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Bharti Airtel in an exchange filing made disclosures concerning its upcoming rights issue. The company said " This is further to our intimation dated August 29, 2021 w.r.t. meeting of the Board of Directors of the Company ('Board') (a) approving the rights issue of partly paid-up equity shares of face value of Rs. 5 each ('Rights Equity Shares') at a price of Rs. 535 per rights equity share (including a premium of Rs. 530 per rights equity share) for an aggregate amount of upto Rs. 21,000 crores ('Issue') to the eligible equity shareholders of the Company in the rights entitlement ratio of 1 Rights Equity Share for every 14 equity shares held by eligible equity shareholders as on the record date, in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and other applicable laws; and (b) authorising the Special Committee of Directors to decide the other terms and conditions of the Issue including Issue period and the record date.'

 
Bharti Airtel Fixes Sep 28 As Record Date For Its Rs. 21,000 Cr Rights Issue

The terms approved for the rights issue are as following:

- Total number of Rights Equity Shares and Issue Size: upto 392,287,662 Rights Equity shares for an amount aggregating upto Rs. 20,987.39 crores. This is assuming full subscription and receipt of all call monies with respect to Rights equity shares.

- Record date for determining the shareholders eligibility for the rights entitlement in the issue has been fixed as September 28, 2021

- Issue period- October 5-October 21, 2021

- The International Securities Identification Number (ISIN) for the purpose of credit of dematerialized rights entitlement under Regulation 77 A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, read with applicable circulars, is INE397D20024.

Also, the company notified on the treatment of fractional entitlements.

GoodReturns.in

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