Bharti Airtel up 2% after board approves Rs 21,000-crore rights issue

The rights issue is price at Rs 535 per share, with entitlement ratio of one equity share for every 14 equity shares held by eligible shareholders as on the record date

Shares of Bharti Airtel gained 1.9 per cent and traded at Rs 605.5 on the BSE in the intra-day trade on Monday after the telecom services provider announced Rs 21,000-crore rights issue. The stock hit an intra-day low of Rs 591.10 after opening at Rs 597.75. In comparison, the S&P BSE Sensex was up 0.69 per cent at 56,513 points at 09:35 am.

"The rights issue is priced at Rs 535 per fully paid-up equity share, including a premium of Rs 530. Further, the rights entitlement ratio entails one equity share for every 14 equity shares held by eligible