Bharti Airtel Ltd fixes Sep 28, 2021 as record date for rights issue

The Board of Directors ('Board') of Bharti Airtel Ltd had earlier approved 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.

The Special Committee of Directors for Rights Issue ('Committee'), at its meeting held on Wednesday, September 22, 2021, has approved the following terms of the Issue:

- 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*.

*assuming full subscription and receipt of all call monies with respect to Rights Equity Shares.

Terms of Payment

On Application - Rs. 133.75 (Face Value - Rs. 1.25 and Premium - Rs. 132.50).

Two more additional calls as may be decided by the Board / Committee of the Board from time to time - Rs. 401.25 (Face Value - Rs. 3.75 and Premium - Rs. 397.50)

Record Date: Tuesday, September 28, 2021 for the purpose of determining the shareholders who shall be eligible to receive the rights entitlement in the Issue.

Issue period:

Issue Opening Date: Tuesday, October 05, 2021
Issue Closing Date: Thursday, October 21, 2021

ISIN for Rights Entitlement: 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.

Shares of Bharti Airtel Ltd. was last trading in BSE at Rs. 726.75 as compared to the previous close of Rs. 726.75. The total number of shares traded during the day was 305045 in over 6389 trades.

The stock hit an intraday high of Rs. 732.15 and intraday low of 724.25. The net turnover during the day was Rs. 222166742.

Source : Equity Bulls

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