March 7 (Reuters) - India's Bharti Airtel Ltd said here 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 37.5 billion rupees ($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.
($1 = 69.9770 Indian rupees)
Reporting by Krishna V Kurup in Bengaluru, Editing by Sherry Jacob-Phillips