Pursuant to the allotment, the paid-up equity share capital of the company has also increased
Bharti Airtel is estimated to have garnered over Rs 5,200 crore from the first round of payment in its recently-concluded rights issue, as the telco's special committee approved allotment of 39.2 crore equity shares to eligible applicants.
The applicants paid Rs 133.75 per share on application, with the balance sum to be paid in two more additional calls as may be decided by the board, the company said in a regulatory filing.
"...the special committee of directors for rights issue, at its meeting held today...approved the allotment of 392,287,662 rights equity shares to the eligible applicants, with Rs 133.75 paid on application and balance to be paid in two more additional calls...," the filing said.
This implies that Airtel has raised an estimated Rs 5,243 crore from the initial tranche.
Pursuant to the allotment, the paid-up equity share capital of the company has also increased.
"...the paid-up equity share capital of the company has increased from Rs 27,460.14 million to 27,950.49 million consisting of 5,492,027,268 fully paid-up equity shares of Rs 5 each and 392,287,662 partly paid-up equity shares (Rs. 1.25 partly paid-up)," it added.
Bharti Airtel's about Rs 21,000 crore rights issue had opened on October 5 and closed on October 21, 2021, and was oversubscribed.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.