Airtel's capital infusion: Promoters to take part in Rs 25k-cr rights issue

Promoter Singapore Telecommunications Ltd (Singtel) said it will subscribe to 170 million new shares in the Rs 25,000 crore rights issue by Bharti Airtel

Bharti Airtel's board of directors have approved a rights issue to the eligible shareholders for an amount up to Rs 25,000 crore, the company informed stock exchanges on Thursday. This is part of the $4.57 billion capital-infusion plan. 

Promoters of Bharti Airtel along with Singapore government's investment arm GIC Private Ltd will subscribe to over half of the proposed Rs 32,000 crore rights issue in a bid to infuse funds in the company.

"The entire rights entitlement of promoter and promoter group of approximately Rs 167,857million (Rs 16,785.7 crore) will be subscribed by them and GIC," Bharti Airtel said in