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Airtel Calls Remaining Rights Issue Funds
19 Dec
Summary
- Bharti Airtel board approved calling remaining ₹15,740 crore from rights issue.
- Shashwat Sharma to become new CEO, Gopal Vittal transitions to executive vice chairman.
- Company aims to cut debt and strengthen its balance sheet with these funds.
Bharti Airtel's board has greenlit the call for the remaining ₹15,740 crore from its rights issue, a move designed to significantly cut debt and fortify the company's financial standing. This decision reinforces Airtel's commitment to a strong balance sheet amidst evolving market dynamics.
In conjunction with the financial move, the company announced a key leadership transition. Shashwat Sharma is set to take over as the Chief Executive Officer on January 1, succeeding Gopal Vittal, who will transition to the role of executive vice chairman. Akhil Garg has been appointed as the new Chief Financial Officer.
The rights issue, initially launched in 2021, has a record date of February 6, 2026, for eligible holders of partly paid-up shares to pay the final call. This strategic infusion of capital is expected to make Airtel's India operations effectively net-debt free, excluding specific regulatory liabilities.
