At 12:20 pm, Bharti Airtel shares were trading greater by 1.2 percent on the BSEBharti Airtel shares got more than 1 per cent on the BSE a day after the company's board authorized fund raising funds.
Bharti Airtel will raise up to Rs 21,000 crore by way of a rights problem to existing investors, the company stated in a regulative filing to the stock market.
At 12:20 pm, Bharti Airtel shares were trading at Rs 601.35, greater by 1.2 per cent, on the BSE, The shares will be priced at Rs 535 a share, a discount rate of around 10 percent to Friday's close of Rs 595.15.
The investors will be qualified to purchase one share for every single 14 shares held in the telecom company.Meanwhile, the Board of Bharti Airtel has actually made up an Unique Committee of Directors to decide the other conditions of the rights problem, including the problem period and record date.Airtel, With more than 352 million subscribers, is India's 2nd greatest provider by users after Reliance Jio, The BSE Sensex and NSE Nifty were trading greater by 0.9 percent each at the time.