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Bharti Airtel Says Promoters Will Take Part In Rights Issue

Singtel and Airtel's major shareholders - Bharti Group and Bharti Telecom - intend to subscribe to their full entitlement

Photo Credit : Reuters

1503910392_Avd4Ms_Airtel_Telecom_Reu.jpg

India's Bharti Airtel Ltd said on Thursday its promoters would take part in the $4.57 billion capital-infusion plan by subscribing to its rights issue.

Promoter Singapore Telecommunications Ltd (Singtel) will subscribe to 170 million shares in the Airtel's rights issue for a total consideration of Rs 37.5 billion ($535.89 million), the Singapore-based company said in a separate statement.

Singtel and Airtel's major shareholders - Bharti Group and Bharti Telecom - intend to subscribe to their full entitlement, except for a renunciation by Bharti Telecom in favour of GIC Singapore, Singtel said.

(Reuters)


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