ICCI Pru MF, SBI MF Among top funds to Bid for Airtel Rights Shares

The likes of ICICI Prudential MF, SBI MF, Kotak Mahindra MF, Aditya Birla MF, HDFC MF, HSBC MF, HSBC and Japan’s Nomura are among the big ticket fund houses who have bid for shares in Bharti Airtel’s ongoing near Rs 21000 crore rights issue top bankers and industry experts aware said.

Airtels rights entitlements also gained 2.45% Thursday to close at Rs 209.15 on the BSE NEAR 33% premium over its intrinsic value. The REs had listed at Rs 191 on Tuesday against its intrinsic value. The intrinsic value is the difference between the price is fully paid shares and rights issue price.

Each RE entitles its owner to subscribe to one Airtel partly paid shares by paying Rs 133.75 before October 21. The REs not renounced or exercised on or before October 21 will lapse.

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