NEW DELHI: Telecom operator Bharti Airtel said on Friday that its about ₹25,000 crore rights issue has been "over-subscribed" as per the preliminary information received. The company's rights issue, which had opened on May 3, closed for subscription on Friday. "The company would like to bring to your notice that, based on preliminary information received, the rights issue has been over-subscribed," the company said in a regulatory filing. The applications received in the rights issue are subject to verification and clearing of payments, and finalisation of the basis of allotment, it added. Sources pointed out that the company's ex-rights price in the market continues to trade at a high premium to rights price.

Source: Mint May 17, 2019 15:11 UTC