Bharti Airtel's Special Committee of Directors for Fund Raising on Thursday approved the conversion of FCCBs of principal value of $ 1 million to 1,38,246 equity shares, the company announced through an exchange filing. The FCCB's were issued by the company on January 14, 2020 and are due in 2025.
The company decided to make the conversions of the convertible bonds after it received notice for conversion from certain holders. The shares with face value of Rs 5 will be allotted at a conversion rate of Rs 521 per equity shares.
Post the allotment, the company's share capital increased to Rs 28,370,254,862.50 consisting of 5,575,959,057 fully paid-up equity shares and 3,92,22,87,662 partly paid-up equity shares of Rs 5 each.
The outstanding principal value of FCCBs as listed on the Singaporean Exchange has reduced to $907.59 million.
Airtel shares
The shares of Bharti Airtel on Friday at 11:43 am IST were at Rs 789.50, up by 0.11 per cent.
