The rights issue of the telecom major Bharti Airtel worth Rs 21,000 crore opens today (October 5) and will be open till October 21. The shareholders of the company whose name had appeared on the record book of the company as on September 28 will receive one share for every 14 held at Rs 535 per unit.
The shares of Bharti Airtel rights entitlement (RE) opens on October 5 and closes October 14 at the stock exchanges. The existing shareholders can also sell their RE through the window. Those who wish to participate in the Rs 21,000-crore rights offering will get to buy the permit to apply. One RE gives a shareholder the right to subscribe to one share in the rights issue.
The company offers about 39.23 crore partly paid-up equity shares of FV of Rs 5 each on a rights basis. Shareholders will have to pay to the extent of 25% of the issue price i.e. Rs 133.75 along with the application in the first instalment and the balance will be payable on two more additional calls.
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