Bharti Airtel delays accessing remaining Rs 15,000 crore rights issue proceeds, cites sufficient cash reserves

Kolkata: The Bharti Airtel board has deferred any additional calls in the near term for accessing its near Rs 15,000 crore remaining rights issue proceeds as the telco has enough cash for its immediate fund requirements.

“Since the company is adequately resourced to cater to its immediate fund requirements, the board felt it was prudent to defer calling the balance amount on partly paid-up shares of the company. Accordingly, the balance money on the partly paid-up shares shall be called from the shareholders by the board as and when any large capital outlay and/or leverage considerations make it necessary,” Airtel said in an exchange filing Monday evening.