Bharti Airtel said its ₹25,000 crore rights issue had been oversubscribed based on “preliminary information received”.
The issue had opened for subscription on May 3, which ended on Friday. Bharti Airtel’s board had, in February this year, approved fund raising plans of up to ₹32,000 crore through rights issuance of up to ₹25,000 crore and perpetual bonds with equity credit up to ₹7000 crore.
“The applications received in the rights Issue are subject to verification and clearing of payments, as applicable, and finalisation of the basis of allotment,” the firm added.