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Bharti Airtel’s ₹ 21,000 crore rights issue, which was open between October 5 and October 21, was fully subscribed. The shares were issued at a price of ₹ 535 per share, including face value of ₹ 5 per share and a premium of ₹ 530 per share. In a rights issue, a company offers rights to its existing share holders to buy additional shares.
The eligible share-holders will receive one share for every 14 shares held on the record date. The record date for determining shareholders’ eligibility to participate in the rights issue is September 28.
Bharti Airtel only collected 25 per cent payment upfront and the remaining 75 per cent will be collected over a three-year period in two tranches. The shares issued under the rights programme will be traded separately as partly-paid shares and the trading will take place from October 28.
