Airtel Board Approve Up to Rs 21,000 Rights Rights Issue

New Delhi: Telecom Bharti Airtel operator on Sunday agreed to RS 21,000 Crore Rights Issue, according to regulatory submission.
The council, who met to consider the planned increase in the company’s capital, the price issued a price of RS 535 per share of equity fully deposited, including RS 530 premiums per equity share.
In the archiving of BSE, Airtel said that “the Board approved the issuance of equity equity equity RS 5 of each company on the basis of equity shareholders who fulfill the company’s requirements such as the date of the record (to be notified later), from the size of the problem to RS 21,000 Crores” .
Right rights ratio requires 1 equity stock for each equity stock held by shareholders who meet the requirements such as the date of record.
Payment terms of the issuance price, imagine 25 percent in the application and balance in two additional calls again as can be decided by the council or the Board Committee based on the Company’s requirements in the overall time of 36 months, said Airtel.
“The promoter group and company promoters will collectively subscribe to the right of their aggregate rights,” he added “they will also subscribe to each stock that does not subscribe to the problem”.
The Board has formed a ‘Special Directors’ Committee’ to decide on other terms and conditions of this problem including the publishing period and date of recording.
The Board of Directors at a meeting reviewing industry scenarios, business environments, financial and business strategies of the company and approved a plan to increase further capital, said Airtel.