Financial Insights

Bharti Airtel’s Rs 21,000-cr rights issue subscribed 1.43 times

The 392 million share offering drew 1.43 times more offers for 562 million shares. These offers were made through the so-called ASBA route. Investors also had the option of requesting the issuance of rights on an online platform using Net Banking or UPI. Offers on this route could not be determined immediately. The rights issue ended on Thursday.

However, Airtel only charges 25 percent prepaid. The remaining 75 percent will be collected in two tranches over a three-year period. Market participants said that the shares issued under the rights program will be deposited into investors’ accounts before October 27. The securities are traded separately as partially paid shares. The Trading can begin on October 28.

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