Undraise gives irtel power to o the extra mile’

Airtel’s ₹21,000 fund-raising plans will give irm the fuel to shift to a er gear and tap large oppories by accelerating investts in the rollout of 5G serviibre, and data centre busi, its chairman Sunil Mittal on Monday. ittal said the industry has urging the government to ess some pressing issues ibiting” continued investts in the sector and added the taxes on the industry ain high. “For every ₹100 of nue, ₹35 go in various forms ies. We hope that as we step nd do our part, the governt will also favourably look at e of the genuine demands of ndustry, enabling a multieffect and positive oute,” Mittal said in an investor n the company’s fundraislans. rtel “has the opportunity to he tip of the spear for the digital economy and take a into the next phase of th”, he added. The investts would be channelised in

like 5G, fibre, and data cenusiness, he said. e capital raise will give the pany the “fuel to grow” and extra mile” to leverage rtunities that are “around orner”, he said.

“This capital will help improve the leverage position for the company and simultaneously provide the fuel to accelerate investments across several parts of our portfolio to drive for competitive and profitable growth,” Mittal said.

The telecom czar further estimated that the industry’s ARPUS (average revenue per user) would reach ₹200 per user per month by the end of the current financial year and eventually move to ₹300. Bharti Airtel’s board on Sunday approved raising up to ₹21,000 crore by way of the rights issue, at a price of ₹535 per share.

The rights entitlement ratio entails one equity share for every 14 equity shares held by eligible shareholders as on the record date. The promoter and promoter group of the company would collectively subscribe to the full extent of their aggregate rights entitlement. The company has informed that they will also subscribe to any unsubscribed shares in the issue.