Bharti Airtel Limited allots 12,008,784 shares on conversion of FCCBs

Upon receipt of notice for conversion of FCCBs of principal value of USD 86,365,000 from certain FCCBs holder(s), the Special Committee of Directors of Bharti Airtel Limited for Fund Raising has, on September 27, 2023, approved the allotment of 12,008,784 fully paid-up equity shares of face value INR 5/- each at a conversion price of INR 518/- per equity share to such holder(s) of FCCBs.

Consequent to the above, the paid-up equity share capital of the Company stands increased to INR 28,577,127,192.50 divided into 5,617,353,523 fully paid-up equity shares of INR 5/- each and 392,287,662 partly paid-up equity shares of INR 5/- each (paid-up value INR 1.25/- each) and the outstanding principal value of FCCBs, as listed at Singapore Exchange Limited, stands reduced to USD 609.340 million.

The company had raised USD 1,000 million 1.50% Convertible Bonds due 2025 (ISIN USY0889VAA80) vide Offering Circular dated January 14, 2020, convertible into Company's fully-paid up equity shares of INR 5/- each at any time on or after February 27, 2020 and upto the close of business hours on February 07, 2025, at the option of the FCCB holders.

Shares of Bharti Airtel Limited was last trading in BSE at Rs. 919.60 as compared to the previous close of Rs. 912.15. The total number of shares traded during the day was 111817 in over 1405 trades.

The stock hit an intraday high of Rs. 921.00 and intraday low of 907.90. The net turnover during the day was Rs. 102430736.00.

Source : Equity Bulls

Keywords

BhartiAirtel INE397D01024 SharesAllotment FCCB Conversion