Airtel to call for ₹15,741 cr tranche of rights issue

Proceeds to be used towards retiring majority of non-govt-related debt

- BS REPORTER

India's second-largest telecom service provider Bharti Airtel will call in March 2026 the final tranche of about ₹15,741 crore from its 2021 rights issue of ₹21,000 crore, proceeds from which will be used towards retiring majority of non-government-related debt.

The Sunil Mittal-promoted telco's board approved the "first and final call" on 392.3 million shares at ₹401.25 per share that were issued on a rights basis totalling ₹20,987.4 crore offered back in September 2021, which will include a premium of ₹397.5 per share.

"The proceeds from the call on the partly paid-up equity shares will be utilised primarily for prepayment or repayment of borrowings, including accrued interest, and general corporate purposes," the company said in a statement to BSE on Thursday.

"Following the pre/repayment of the borrowings and along with its organic cash generation, the company's India operations are expected to become effectively net debt-free in the near term except for DoT (department of telecommunications) liabilities and Finance Lease Obligations, thereby further strengthening its balance sheet," Airtel added.