Bharti Airtel’s board has approved calling the remaining Rs 157.40 billion from its Rs 210 billion rights issue as the company looks to reduce debt and strengthen its balance sheet.
Airtel has already raised about Rs 52.47 billion in the first tranche of the rights issue launched in 2021. The issue includes an option to raise the remaining 75 per cent through additional calls priced at Rs 401.25 per share within 36 months of the closure of the issue.
Further, in relation to the rights issue, the board has fixed February 6, 2026, as the record date to identify eligible holders of partly paid-up shares who will be required to pay the money during the first and final call period from March 2 to March 16, 2026, the company said in a regulatory filing.
Additionally, Bharti’s promoters, Bharti Telecom Limited and Pastel Limited have amended the existing shareholder agreement. This was done to better align the agreement with evolving business requirements and contemporary corporate governance standards.
Estimates indicate that Airtel could receive around Rs 79-80 billion of the Rs 157.40 billion rights issue proceeds from its promoters, in proportion to their shareholding.
Lastly, the board also approved a reshuffle in the top management. Shashwat Sharma will take over as chief executive officer (CEO) with effect from January 1, 2026, while the current CEO and managing director (MD) will transition to the role of executive vice chairman (VC), overseeing the company and its subsidiaries. Akhil Garg will assume charge as the new chief financial officer (CFO), with the incumbent CFO being elevated to the position of group CFO.
