Bharti Airtel Limited has informed the Exchange regarding 'Update on First and Final Call '.
BHARTIARTL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bharti Airtel has completed the First and Final Call of INR 401.25 per share (INR 3.75 face value + INR 397.50 premium) on partly paid-up shares from its 2021 rights issue. The company received INR 156,959.77 million (about INR 15,696 crore) from eligible shareholders on 391,176,994 partly paid-up shares. These shares are now being converted into fully paid-up equity shares of INR 5 face value under ISIN INE397D01024 and will rank equally with existing shares. As a result, the paid-up equity share capital has increased to about INR 3,047 crore, comprising roughly 6.09 billion fully paid-up shares and a small balance of 1,110,668 partly paid-up shares for which the company will issue reminders.
This is a routine completion of the 2021 rights issue call money, not a fresh capital raise or new dilution. Shareholders who paid the call now hold fully paid shares with full dividend and voting rights. The share count rise was already anticipated since the partly paid shares were already issued, so the event should be largely neutral for the stock.