New Delhi: Bharti Airtel's biggest rights issue of ₹25,000 crore will open on May 3 and close on May 17, the company said in a regulatory filing. Bharti Airtel said its board of directors in a meeting held on Friday approved rights issue which is scheduled to open on May 3 and close on May 17. Bharti Airtel has already fixed April 24 as the 'record date' to determine shareholders' eligibility to apply for the equity shares. Airtel has announced rights issue to raise up to ₹25,000 crore through issuance of fully paid-up shares at a price of ₹220 per share, and additional ₹7,000 crore through a foreign currency perpetual bond issue. Last month, Airtel received commitment from its single-largest shareholder SingTel, promoters, and GIC Singapore to participate in the ₹32,000-crore capital raising programme.

Source: Mint April 19, 2019 14:03 UTC