Airtel Rs 21000 Rights Issue 2021; SBI, ICICI Prudential HDFC, HSBC Mutual Fund | Big fund houses including ICICI Prudential, SBI are buying, issue will close on 21

  • Hindi News
  • Business
  • Airtel Rs 21000 Rights Issue 2021; SBI, ICICI Prudential HDFC, HSBC Mutual Fund

Mumbai3 minutes ago

  • copy link

Airtel’s stock has performed well in the last one year. Most brokerage houses recommend buying it

There is a lot of interest from mutual fund companies in the rights issue of Bharti Airtel, the country’s second largest telecom company. Big fund houses like SBI, ICICI Prudential HDFC, HSBC Mutual Fund are buying into this rights issue.

The rights issue will close on October 21

The rights issue of Bharti Airtel will close on October 21. The company has set a target of raising Rs 21 thousand crore through this. This is the company’s second rights issue after two years. Earlier in May 2019, the company had raised Rs 25,000 crore. This time the company is offering shares at a discount compared to the share price. It can be bought at a price of Rs 535 per share. The stock was trading at Rs 694 on Wednesday.

One share will be available for every 14 shares

In the rights issue, those investors will get shares, who already have shares. One share will be available for every 14 shares. If investors do not want to take this stock, they can also sell it. The entitled share of Airtel was listed on the exchange last week. It was listed at Rs 192 and was trading at Rs 209. That is, it was listed at 33% premium. The value of its rights entitlement was Rs 146.

Investors will have to pay only Rs 133.75 in the first phase before October 21. After that the rest of the money will have to be paid in installments.

Entitlement shares can be sold till October 14

Retail investors can sell the shares under the entitlement till October 14. According to sources, mutual fund houses already hold shares in Airtel. So they are largely betting on it at a cheap price. Because of this, there can be a huge subscription in the rights issue. Analysts say that due to the relief given by the government to the telecom sector recently, telecom companies can perform well in the coming times.

A good investment in this time’s rights issue

It is being told that fund houses have invested a lot in this time’s rights issue. Airtel stock has performed well in the last one year. Most of the brokerage houses recommend buying it. Promoters hold 56% in Airtel. Sunil Mittal and Singtel have stake in it. The Mittal family holds more than 24% stake. Hence the promoters group can buy shares in the rights issue in proportion to its holding.

There is more news…

Leave a Comment