Bharti Airtel Plans To Raise Up To Rs 21,000 Crore Through Share Sale

Bharti Airtel plans to raise up to Rs 21,000 crorevia a sale of shares to existing shareholders.

Telecom major Bharti Airtel said on Sunday it plans to raise up to Rs 21,000 crore via a sale of shares to existing shareholders as it builds a war chest to prepare for the launch of 5G services. Bharti said the shares would be priced at Rs 535 apiece, which is around a 10 per cent discount to Friday's close of Rs 595.15. Bharti founder-chairman Sunil Mittal and others in the founder group will also participate in the share purchase, the company said in a statement. The company said that shareholders would be eligible to buy one share for every 14 share they hold in the telecom firm.