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Airtel introduces rights issues worth Rs. 25000 crore to market

By HindusthanSamachar | Publish Date: Apr 9 2019 4:22PM
Airtel introduces rights issues worth Rs. 25000 crore to market
New Delhi, Apr. 9 (HS): Rights Issue of the leading telecom operator Bharti Airtel worth Rs. 25000 crore has been approved by Security and Exchange Board of India. Airtel will offer its new shares to existing shareholders.The funds collected through rights issue will be invested to build large network capacity as well as to enter into content and technology partnerships to provide better customer experience. Singapore Telecom Major-Singtel, promoters and GIC Singapore will also subscribe to this rights issue as existing shareholders. Singtel and GIC Singapore will invest Rs. 3750 crore and Rs. 5000 crore respectively while remaining Rs.16250 crore will be invested by promoters and other shareholders. The other details of this issue will be announced at appropriate times after obtaining approvals.As there is intense competition going on in the telecom sector, this infusion of funds will rightly help the company to spearhead in the market as earlier. According to sources, the other telecom company-Vodafone Idea has also sanctioned Rs. 25000 crore Rights issue. Hindusthan Samachar/Bhaarati/Pramod \
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