New Delhi . Domestic telecom gear maker Tejas Networks on Thursday said it has been selected by Bharti Airtel to expand its optical network capacity in key metropolitan markets. Under this deal, Tej will supply, install and support its optical transmission products to expand Airtel’s optical network.
As part of its preparation for 5G, Airtel is making significant investments to expand the Metro network capacity and meet the increased bandwidth consumption.
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The Tata group recently acquired a controlling stake in Tejas for Rs 1,890 crore. Sanjay Nayak, Managing Director and CEO, Tejas Network said, “We are delighted to expand our partnership with Airtel. Under this new contract, we will make available our multi terabit TJ1600 DWDM/OTN products to enhance Airtel’s Metro network capacity.
Right issue of Bharti Airtel
The Rights Issue of the country’s leading telecom company Bharti Airtel will open on 5 October 2021 and will close on 21 October 2021. According to the information given by the company to the stock exchanges, the record date for the eligibility of the rights issue has been fixed on September 28. The board of directors of Bharti Airtel had approved raising up to Rs 21,000 crore through rights issue last month i.e. on August 29.
The issue price of the rights issue has been fixed at Rs 535 fully paid-up equity share, which includes a premium of Rs 530 per share. The company has said in a regulatory filing that the Board has decided to issue equity shares of face value of Rs 5 each of the company on a right basis to eligible equity shareholders of the company as on record date (notified later) for issue size of up to Rs 21,000 crore. has been approved.
What is rights issue?
Experts related to the stock market say that new shares are issued to the existing shareholders of a company in a fixed amount. Explain that to raise money, rights issue is resorted to by companies. The rights issue is sold according to the amount of shares held by the shareholders.
Suppose if the rights issue is of 2:5, then under this, 2 rights shares will be sold to the investor for every 5 shares. Experts say that to make the rights issue attractive to investors, their prices are kept low. This means that the investor can buy shares at a cheaper price through a rights issue.
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Orignally published at Tailored Stash
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