Highlights
- Bharti Airtel reported no deviation or variation in utilisation of First and Final Call proceeds for the quarter ended June 30, 2026.
- The company received ₹15,695.98 Crore from eligible shareholders under the First and Final Call.
- Axis Bank Limited acted as the monitoring agency for utilisation of proceeds.
- The funds were raised through the company’s Rights Issue of equity shares.
- The company confirmed that utilisation remained aligned with the objects disclosed in the offer document.
Company provides utilisation update on Rights Issue proceeds
Bharti Airtel Limited (NSE:BHARTIARTL) has submitted the Monitoring Agency Report and statement of nil deviation or variation regarding the utilisation of proceeds received from the First and Final Call on partly paid-up equity shares.
The disclosure was made for the quarter ended June 30, 2026, in compliance with applicable provisions under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The company stated that the Audit Committee and Board of Directors reviewed the documents submitted by the monitoring agency and took note of the utilisation status.
Rights Issue generated ₹20,987.39 Crore
The funds were originally raised through Bharti Airtel’s Rights Issue undertaken in accordance with the Letter of Offer dated September 22, 2021.
Under the Rights Issue, the company issued and allotted 392,287,662 equity shares to eligible shareholders at an issue price of Rs. 535 per share, including a premium of Rs. 530 per share.
The shares were issued in the ratio of one additional equity share for every 14 equity shares held by eligible shareholders as on the record date of September 28, 2021.
The aggregate size of the Rights Issue amounted to ₹20,987.39 Crores.
First and Final Call generated ₹15,695.98 Crore
Following the Rights Issue, the company’s Board approved the First and Final Call on December 18, 2025 for the outstanding partly paid-up equity shares.
The First and Final Call amount was fixed at Rs. 401.25 per share, comprising Rs. 3.75 towards face value and Rs. 397.50 towards premium.
The payment period for the call was from March 2, 2026 to March 16, 2026. The company received an aggregate amount of ₹15,695.98 Crore towards the First and Final Call from eligible shareholders holding 391,176,994 partly paid-up equity shares.
Data Source: Company Filings; Analysis: Kalkine Group
Axis Bank confirms no deviation in fund utilisation
Axis Bank Limited acted as the monitoring agency for reviewing the utilisation of the First and Final Call proceeds.
The Monitoring Agency Report dated August 4, 2026 confirmed that there was no deviation from the disclosed objects of the issue. The report also stated that the range of deviation was classified as no deviation.
The company separately submitted a statement confirming that there was no deviation or variation in the utilisation of funds raised during the quarter ended June 30, 2026.
According to the disclosure, there was no change in the objects of the issue, no change in the means of finance for the disclosed objects and no major deviation observed compared with earlier monitoring agency reports.
Funds utilised towards disclosed objectives
The Monitoring Agency Report provided details of utilisation across the objects mentioned in the offer document.
For payment of liabilities, the company had proposed utilisation of Rs. 82,740.94 million, and the entire amount was utilised.
For repayment of bank borrowings, the company had proposed utilisation of Rs. 23,963.67 million. During the reported quarter, Rs. 8,600.00 million was utilised, while Rs. 15,363.67 million remained unutilised.
For general corporate purposes, the company had allocated Rs. 50,255.16 million, and the full amount was utilised.
The report noted that the utilisation was based on information and certifications considered by the monitoring agency, including certificates provided by a Chartered Accountant firm.
Unutilised proceeds maintained as per interim utilisation process
The monitoring report also disclosed details regarding deployment of unutilised issue proceeds.
Funds from the monitoring agency account maintained with Axis Bank were placed in fixed deposits with banks, aligned with the interim use of net proceeds under the objects of the issue.
The report stated that investments included fixed deposits with Kotak Mahindra Bank and HDFC Bank. The amounts were held pending further utilisation in accordance with the disclosed objectives.
The company confirmed that there was no delay in implementation of the disclosed objects.
Conclusion
Bharti Airtel has reported no deviation or variation in the utilisation of proceeds received from the First and Final Call on partly paid-up equity shares under its Rights Issue. The company received ₹15,695.98 Crore from eligible shareholders, and Axis Bank’s monitoring report confirmed that utilisation remained aligned with the objectives disclosed in the offer document. The company continues to provide periodic updates regarding deployment of the funds raised through the capital-raising exercise.
FAQs
Q: How much amount did Bharti Airtel receive from the First and Final Call?
A: Bharti Airtel received ₹15,695.98 Crore towards the First and Final Call on partly paid-up equity shares.
Q: What was the total size of Bharti Airtel’s Rights Issue?
A: The aggregate Rights Issue size was ₹20,987.39 Crores.
Q: Who was the monitoring agency for the fund utilisation report?
A: Axis Bank Limited acted as the monitoring agency for reviewing utilisation of the proceeds.
Q: Was there any deviation in utilisation of the funds?
A: No. The company reported nil deviation or variation in utilisation of the First and Final Call proceeds for the quarter ended June 30, 2026.
Q: What were the main purposes for which the funds were allocated?
A: The funds were allocated towards payment of liabilities, repayment of bank borrowings and general corporate purposes as disclosed in the offer document.