Bharti Airtel promoters, GIC to subscribe half of Rs 32K cr rights issue

The entire rights entitlement of promoter and promoter group of approximately Rs 16,785.7 crore will be subscribed by them and GIC," Bharti Airtel said in a statement Thursday

Telecom operator Bharti Airtel Thursday received commitment from its single-largest shareholder Singtel, promoters and GIC Singapore to participate in its Rs 32,000 crore capital raising programme.

Singapore telecom major SingTel said it will infuse Rs 3,750 crore in Bharti Airtel by subscribing to the proposed Rs 25,000 crore rights issue of the company.

GIC Private Limited, on behalf of Government of Singapore and Monetary Authority of Singapore, has made a commitment of Rs 5,000 crore in the proposed programme.

"The entire rights entitlement of Promoter and Promoter Group of approximately Rs 167,857 million (Rs 16,785.7 crore) will be subscribed by them and GIC,