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Bharti Airtel informs about proposed qualified institutional placement of equity shares

09 Jan 2020 Evaluate

Bharti Airtel has informed that pursuant to the approval accorded by the Board of Directors of the Company at its meeting held on December 04, 2019 and the special resolutions passed by the members at their Extraordinary General Meeting held on Friday, January 03, 2020, the Special Committee of Directors for Fund Raising of the Company (the 'Committee') has, at its meeting held on January 08, 2020 approved Issue of Equity Shares on a Qualified institutions placement under Chapter VI of the SEBI ICDR Regulations and applicable provisions of the Companies Act, 2013 read with the applicable rules. In this regard, the Committee also approved the floor price of the Equity Shares being offered in the Issue, and resolved that the Committee may, at its absolute discretion, offer a discount of not more than 5% on the floor price in accordance with Regulation 176 of Chapter VI of the SEBI ICDR Regulations; the preliminary placement document dated January 08, 2020 and the application forms in connection with the Issue; and the opening of the Issue on January 08, 2020. In this relation, it has filed the preliminary placement document dated January 08, 2020 with the exchanges on January 08, 2020. Further, informed that the 'Relevant Date' for the purpose of the Issue shall be the date of the meeting of Committee approving the opening of the Issue, on January 08, 2020 and accordingly, the floor price in respect of the Equity Shares to be issued pursuant to the Issue, based on the pricing formula as prescribed under SEBI ICDR Regulations is Rs 452.09 per Equity Share.

The above information is a part of company’s filings submitted to BSE.

Bharti Airtel Share Price

1845.05 -1.50 (-0.08%)
20-Apr-2026 16:59 View Price Chart
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