Bharti Airtel Rights Issue 2024, Share Price, History, Allotment Status and More Details

News: Bharti Airtel, a prominent player in the telecommunications industry, recently conducted a Rights Issue in 2024. In this article, we’ll delve into the key details of this significant event, including the share price, historical context, and the status of allotment.

Bharti Airtel: A Brief Overview

Bharti Airtel, founded in 1995, is the world’s second-largest provider of telecommunications services. With approximately 474 million customers globally, it operates in 18 countries across Asia and Africa. The company’s services include high-speed 4G/4.5G mobile broadband, Airtel Xstream Fiber, streaming services, digital payments, and financial solutions. Airtel caters to both individual consumers and enterprise clients, offering secure connectivity, cloud services, cybersecurity, and more.

The Rights Issue Details

Here are the specifics of Bharti Airtel’s recent Rights Issue:

Issue Period: The Rights Issue was open from October 5, 2021, to October 21, 2021.

Issue Size: A total of 392,287,662 shares were offered, amounting to ₹20,987.39 Crores.

Issue Price: Each share was priced at ₹535.

Face Value: The face value of each share was ₹5.

Entitlement: Shareholders were entitled to 1 Rights Equity Share for every 14 Equity Shares held on the Record Date.

Purpose of the Issue

The proceeds from the Rights Issue were allocated for the following purposes:

Debt Repayment: Pre-payment or repayment of certain borrowings, including interest payments.

Liabilities Settlement: Repurchase of a portion of liabilities availed by the company and its subsidiaries.

Deferred Payment Term Liabilities: Addressing deferred payment term liabilities to the Department of Telecommunications (DoT).

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Timetable

Here’s the timeline of the Rights Issue:

• Record Date: September 28, 2021
• Credit of Rights Entitlements: October 4, 2021
• Bid/Offer Opens: October 5, 2021
• Renunciation of Rights Entitlements: October 14, 2021
• Bid/Offer Closes: October 21, 2021
• Deemed Date of Allotment: October 28, 2021
• Credit Date: October 29, 2021
• Listing Date: November 1, 2021

Financial Snapshot

As of March 31, 2021:

Total Assets: ₹3,460,278 million

Total Income: ₹1,012,586 million

Profit After Tax: (₹123,640 million)

Bharti Airtel’s Rights Issue was a significant move aimed at strengthening its financial position and addressing key obligations. As the telecom giant continues to evolve, investors closely monitor its performance and strategic decisions.

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FAQs

When will Bharti Airtel tell us the official date for its Rights Issue 2024?

The official date for Bharti Airtel Rights Issue 2024 hasn’t been shared yet. Keep an eye out for updates from the company.

What stuff does Bharti Airtel do?

Bharti Airtel does a bunch of things – they offer mobile, fixed-line, broadband, digital TV, and solutions for businesses.

Who’s in charge at Bharti Airtel?

Running the show at Bharti Airtel are Chairman Sunil Mittal and MD & CEO Gopal Vittal.