March 7, 2019 / 4:29 AM / 18 days ago

India's Bharti Airtel says promoters will take part in rights issue

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below