Airtel’s Rs 21,000 Crore Rights Issue Is Open For Subscription

Airtel’s Rs 21,000 crore rights issue is open for subscription, know the special things related to it.

The rights issue of Rs 21,000 crore of telecom company Bharti Airtel opened for subscription today (on October 5). The company will issue rights shares under this issue at the rate of Rs 535 per share.

This includes a premium of Rs 530 with a face value of Rs 5. The rights issue can be subscribed till October 21. 392,287,662 shares will be issued through this rights issue.

Under the rights issue, the company gives an opportunity to its existing shareholders to buy additional shares. One share will be offered to the eligible shareholder for every 14 shareholdings.

Under this rights issue, shareholders who had at least 14 shares of Bharti Airtel as of September 28 will be given an opportunity to buy more shares on behalf of the company.

The company’s board has set a record date for this offer on September 28.

The special committee of the Board of Directors constituted for the rights issue had taken a decision related to the rights issue on September 22, 2021.

Bharti Airtel is the second largest company in the telecom market of India. The company is behind only Reliance Jio with 35.2 crore mobile users.

Bharti Airtel share price.

At 10:55 am, the stock of Bharti Airtel was trading at Rs 689.85, up by Rs 8.75, or 1.28 percent, on the BSE. Similarly, on the NSE, Airtel’s stock was trading at Rs 690.65, up by Rs 9.25, or 1.36 percent.

Increase in the price of CNG, PNG, know what are the new prices are.

Mahanagar Gas Limited on Monday increased the retail price of CNG and PNG by Rs 2 with immediate effect.

In fact, this increase comes after a massive 62 percent increase in the prices of domestically produced gas announced by the Center last week.

In a statement, MGL said the company is increasing the base price of CNG by Rs 20 per kg and domestic PNG by Rs 2 per SCM in view of the steep increase in supply-side costs.

After the price of re-gasified liquefied natural gas hit a historic high, MGL said the cost of procuring gas has increased significantly.

Inclusive of all taxes on CNG and domestic PNG in and around Mumbai, the change price will be Rs 54.57/kg and Rs 32.67/SCM for Slab 1 customers respectively, and Rs 38.27/SCM for Slab 2 customers respectively.

Even at the new prices, CNG is 65 percent cheaper than petrol and 44 percent cheaper than diesel. Domestic PNG is 34 percent cheaper than LPG.