Bharti Airtel-led Rs20,987.39cr rights issue oversubscribed by 1.44 times

The issue witnessed overbid by both public and promoter/ promoter groups.

Oct 22, 2021 12:10 IST India Infoline News Service

Airtel
Bharti Airtel has announced that its 'Rights Issue' has been subscribed by 1.44 times. The issue closed on October 21, 2021.

The issue witnessed overbid by both public and promoter/ promoter groups.

The applications received in the Rights Issue are subject to verification and clearing of payments, as applicable, and finalization of the basis of allotment.

The company's rights issue opened on October 05, 2021, where it issued 392,287,662 Rights Equity shares for an amount aggregating up to Rs20,987.39cr.

The floor price for the rights issue was set at Rs535 per equity share.

At around 12.02 pm, Bharti Airtel was trading at Rs691.40  per piece down by 0.7% on Sensex. The stock has touched an intraday high and low of Rs705.10 per piece and Rs690.75 per piece respectively. 

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