New Delhi, Aug 29 (TIWN) Telecom major Bharti Airtel's Board of Directors have approved the raising of up to Rs 21,000 crore through a rights issue.

The company's board approved issuing rights at Rs 535 per share in the ratio of 1 equity share for every 14 shares held by the shareholders as on the record date, according to its stock exchange filing. The record date will be notified later, it said.  A special committee of directors has been constituted to decide the terms and conditions of the issue. The network operator also stated that the promoter and promoter group will collectively subscribe to the full extent of their aggregate rights entitlement as well as unsubscribed shares in the issue.