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Bharti Airtel Says Promoters Will Take Part In Rights Issue

Singtel will subscribe to 17 crore shares in the Airtel's rights issue for a total consideration of Rs 3,7500 crore, the Singapore-based company said.

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Bharti Airtel Says Promoters Will Take Part In Rights Issue

Bharti Airtel said on Thursday its promoters would take part in the $4.57 billion capital-infusion plan by subscribing to its rights issue.

Promoter Singapore Telecommunications Ltd (Singtel) will subscribe to 17 crore shares in the Airtel's rights issue for a total consideration of Rs 3,750 crore ($535.89 million), the Singapore-based company said in a separate statement.

Singtel and Airtel's major shareholders - Bharti Group and Bharti Telecom - intend to subscribe to their full entitlement, except for a renunciation by Bharti Telecom in favour of GIC Singapore, Singtel said.

 



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