Airtel announces rights issue and leadership changes
pre-market1 source ↓written by the desknot a recommendation
- approved the remaining
- ₹15,740 cr
- rights issue aimed
- ₹21,000 cr
- and Akhil Garg
- 1 Jan 2024
- raised
- ₹5,247 cr
- per share
- ₹401.25
Bharti Airtel's board approved the remaining ₹15,740 cr from its ₹21,000 cr rights issue aimed at reducing debt. The company also reshuffled its leadership, appointing Shashwat Sharma as CEO from 1 Jan 2024 and Akhil Garg as CFO. This strategic move may enhance investor confidence and stabilize the balance sheet.
• ₹5,247 cr raised in the first tranche
• Option to tap balance 75% within 36 months at ₹401.25 per share
Not investment advice. For informational purposes only.