Bharti Airtel will have an investor call on August 30 following the board's approval of a Rs 21,000 crore rights offering.

Bharti Airtel

Bharti Airtel

Bharti Airtel, the telecom giant, stated on August 29 that it will have an investor call on August 30 following the board's acceptance of a Rs 21,000 crore rights issue, according to CNBC-TV18.At 2:30-3:30 p.m., Bharti Airtel Chairman Sunil Bharti Mittal will host an investor conference call.

The telco stated earlier in the day that its Board of Directors had approved a capital increase of up to Rs 21,000 crore by issuing equity shares with a face value of Rs 5 apiece.Bharti Airtel stated in a regulatory filing on August 29 that the right issue price would be fixed at Rs 535 per fully paid-up equity share, including a premium of Rs 530 per equity share.Bharti Airtel stated, among other things, that one equity share would be issued for every 14 equity shares held by qualified shareholders as of the record date.The telco's board of directors also formed a special committee of directors' to decide on the issue's other terms and conditions, such as the issue period and record date.The telecom companies recently suffered a setback on the subject of AGE-related dues, as the Supreme Court dismissed cases seeking recalculation of dues.

Source: Money Control



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