Background of Fund Raising

The disclosure pertains to the First and Final Call proceeds from the Rights Issue undertaken by Bharti Airtel Limited:

  • Original Rights Issue: Issued 392,287,662 equity shares at ₹535 per share (including premium of ₹530)
  • Issue Size: ₹20,987.39 Crores aggregate
  • Issue Period: 17 days from October 5, 2021 to October 21, 2021
  • Application Money: Received ₹133.75 per share (₹1.25 face value + ₹132.50 premium)
  • First and Final Call: Board approved on December 18, 2025 for ₹401.25 per share (₹3.75 face value + ₹397.50 premium)
  • Call Payment Period: March 2, 2026 to March 16, 2026
  • Amount Raised: ₹15,740.54 Crores aggregate call amount
  • Amount Received: ₹15,695.98 Crores from 391,176,994 partly paid-up equity shares

Monitoring Agency Details

  • Monitoring Agency: Axis Bank Limited
  • Report Date: August 4, 2026
  • Quarter Covered: Ended June 30, 2026
  • Deviation Status: No deviation from objects stated in offer document
  • Range of Deviation: No deviation

Utilization of Proceeds (Rs. in Million)

Payment of DoT Liabilities

  • Amount Proposed in Offer Document: ₹159,254.16 million
  • Amount Received as Call Money: ₹82,740.94 million
  • Amount Utilized at Quarter End: ₹82,740.94 million (100% of received amount)
  • Unutilized Amount: Nil

Repayment of Bank Borrowings

  • Amount Received as Call Money: ₹23,963.67 million
  • Amount Utilized at Quarter End: ₹8,600.00 million
  • Unutilized Amount: ₹15,363.67 million

General Corporate Purposes

  • Amount Proposed in Offer Document: ₹50,255.16 million
  • Amount Received as Call Money: ₹50,255.16 million
  • Amount Utilized at Quarter End: ₹50,255.16 million (100% of received amount)
  • Unutilized Amount: Nil

Deployment of Unutilized Proceeds

The unutilized amount of ₹15,363.67 million was invested in fixed deposits:

1. FD with Kotak Mahindra Bank

  • Amount Invested: ₹10,073.07 million
  • Maturity Date: July 7, 2026
  • Return on Investment: 6.65%
  • Value at Quarter End: ₹10,227.23 million

2. FD with HDFC Bank

  • Amount Invested: ₹5,576.61 million (actual FD amount ₹6,450 million including accruals)
  • Maturity Date: October 28, 2026
  • Return on Investment: 6.90%
  • Market Value at Quarter End: ₹5,577.67 million

Monitoring Agency Findings

  • Government/Statutory Approvals: All obtained
  • Technical Arrangements: All in operation
  • Favorable Events Affecting Viability: None
  • Unfavorable Events Affecting Viability: None
  • Other Material Information: None
  • Major Deviations from Earlier Reports: None

Corporate Governance Review

  • Audit Committee Meeting: Held on Tuesday, August 4, 2026
  • Board of Directors Meeting: Held on Tuesday, August 4, 2026
  • Review Outcome: Both committees reviewed and noted the monitoring report and nil deviation statement

Certification and Declarations

Axis Bank Limited declared:

  • The report provides true and fair view of utilization of issue proceeds
  • No direct/indirect interest in or relationship with issuer/promoters/directors/management
  • No perceived conflict of interest in monitoring and reporting utilization

Regulatory Compliance Status

  • Shareholder Approval for Deviation: Not applicable (no deviation)
  • Monitoring Agency Appointment: Yes (Axis Bank Limited)
  • Deviation/Variation in Fund Use: No
  • Audit Committee Comments: None
  • Auditor Comments: None

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