Bharti Airtel rights issue ends today; issue gets subscribed 1.44 times

Bharti Airtel’s rights issue closed for subscription today, the company informed in an exchange filing. The rights issue has been subscribed by approximately 1.44 times, overbid by both public and promoter/ promoter group, the exchange filing further said. This is based on preliminary information received by the company, it said.

The applications received in the Rights Issue are subject to verification and clearing of payments, as applicable, and finalization of the basis of allotment.

See Zee Business Live TV Streaming Below:

As per NSE, a right is issued by a company to its shareholders on a pre-determined date called the record date.

Rights entitlements are offered to shareholders as a ratio to the number of securities held on this record date.

The record date was September 28, 2021 while the issue opening date was October 5, 2021. The issue closing was to end in October 21, 2021.

Finalisation of Basis of Allotment (on or about) - October 26, 2021

Date of Allotment (on or about) - October 26, 2021

Date of credit (on or about) - October 27, 2021

Date of listing (on or about): October 28, 2021.