Bharti Airtel to Raise up to Rs. 21,000 Crore

Bharti Airtel

On Sunday, Bharti Airtel, the telecom major said, as the company builds a war chest to prepare for the launch of 5G services, it is planning to raise up to Rs. 21,000 crores by selling shares to existing shareholders.

The company added that the shares would be priced around a 10% discount to Friday’s close of Rs. 595.15, which would be Rs. 535 apiece.

In a statement, the company said that the founder group including Sunil Mittal, the Founder-chairman of Bharti Airtel will participate in the purchase.

The shareholders will be allowed to buy a share for every 14 shares they hold in the telecom firm, the company added.