Bharti Airtel has raised an estimated more than 5,200 crores from the first payment round of the recently completed rights issue as a telecommunications company’s special committee approved the allotment of shares of 39.2 crores to eligible applicants.
Applicants will have to pay Rs 133.75 per share at the time of application and the remaining amount will have to be paid on two additional phone calls that can be decided by the board, the company said in a filing with the regulatory agency.
“… The Board of Directors Special Committee for the Issuance of Subscription Rights at Today’s Meeting approves the allocation of 392,287,662 Subscription Rights to Eligible Applicants, with Rs 133.75 paid upon request, remaining Will be paid on two more phone calls, “File said.
This means that Airtel has raised an estimated Rs 5,243 million from the original tranche. As a result of the allocation, the company’s paid-up capital also increased.