Airtel will raise ₹15,740 crore from a rights issue and reorganize senior leadership to reduce debt and enhance management.

Bharti Airtel’s board approved calling the balance ₹15,740 crore tranche of a 2021 ₹21,000 crore rights issue. The move intends to reduce the company’s net debt, which stood at ₹1.95 lakh crore, and improve the balance sheet. Leadership changes include Shashwat Sharma becoming CEO effective January 1, Gopal Vittal transitioning to executive vice chairman, and Akhil Garg becoming CFO, with Soumen Ray elevated to group CFO. The rights issue aligns with Airtel’s strategy to strengthen finances as government telecom payment terms have become more favorable, reducing upfront cash needs.