Bharti Airtel has announced allotment of 32.35 crore equity shares to eligible institutional buyers at an issue price of Rs 445 per share as part of USD 2 billion qualified institutional placement that closed on Tuesday. The issue price was at a discount of 1.57 per cent to the stated floor price of Rs 452.09 per equity share.

Bharti Airtel has to pay nearly Rs 35,586 crore in additional statutory dues, after a Supreme Court ruling on AGR liabilities of telecom companies in October last year.

Earlier this month, shareholders of Bharti Airtel had approved proposals to raise up to USD 2 billion in equity and another USD 1 billion in debt.

Airtel has announced the closure of the issue period for the qualified institutional placement and fixed the issue price at “Rs 445 per equity share which is at a discount of 1.57 per cent to the floor price of Rs 452.09 per equity share”.

As many as 32.35 crore equity shares are being allotted to eligible qualified institutional buyers, the company said in a regulatory filing. The special committee of directors for fund raising exercise also cleared the terms of foreign currency convertible bonds including the issue price.