iWorld
Bharti Airtel board’s special committee recommends Rs 32,000 cr rights issue
BENGALURU: The Sunil Mittal-headed Indian telecom major Bharti Airtel Ltd (Airtel) has informed the bourses that its board of directors (the board) in its meeting held on. Thursday, February 28, 2019, has considered the recommendations of 'Special Committee of Directors for Fund Raising' and thereby approved the fund raising of up to Rs 32,000 crore through rights issuance of upto Rs 25,000 crore; and Perpetual Bond with equity credit up to Rs 7000 crore.
The Perpetual bond of will be up to USD 1 billion (approximately Rs 7000 crore) denominated in foreign currency subject to price, market conditions and other terms and conditions as acceptable, and with conditions allowing for full accounting equity credit and subject to all applicable laws including under ECB Regulations.
Further, the Board approved the following terms of the Rights Issue:
a) Rights Issue Price: Rs 220 per fully paid equity share (including a premium of Rs 215 per fully paid equity share over face value of Rs 5 per share); and
b) Rights entitlement ratio: 19 shares for every 67 shares held by eligible shareholders as on the record date.
Airtel has not been very effective in countering what it termed in one of its media releases Mukesh Dhirubhai Ambani’s Reliance Jio Infocomm’s ‘predatory pricing’. The company has lost subscribers, wireless as well as wireless broad subscribers in the month of December 2018 as per Telecom Regulatory Authority of India (TRAI) latest monthly Telecom Reports. The company has not fared as well as in the past as per its quarterly report for the third quarter (Quarter ended December 31, 2018, Q3 2019).
Gaming
Roblox appoints Sunil Rao as India managing director to drive growth
Former AWS leader to lead creator ecosystem, partnerships and local strategy
MUMBAI: Roblox has appointed Sunil Rao as managing director for India, as the company looks to deepen its footprint in one of its fastest-growing markets.
Rao, who will join in May, will serve as the senior-most representative for Roblox in India, leading local strategy, partnerships and day-to-day operations. His mandate includes strengthening the platform’s presence, supporting the creator ecosystem and aligning India’s market needs with global priorities.
A key focus area will be nurturing India’s growing community of developers and creators, enabling local studios to leverage Roblox’s tools for scaling and monetisation. Globally, the platform’s creator community earned over $1.5 billion in 2025, underlining the economic potential of user-generated content ecosystems.
“Roblox is at the forefront of enabling a new generation of creators and games. India’s scale, creativity, and entrepreneurial energy present a massive opportunity,” said Rao. “I’m excited to build a vibrant and inclusive ecosystem that empowers developers and creators across the country. Ensuring child safety and aligning closely with India’s regulatory framework will be among my top priorities.”
Welcoming the appointment, Roblox vice president international Zhen Fang said India represents a high-potential market for the company. “Sunil brings deep expertise in building operations across diverse markets, and his passion for community-centric platforms makes him the ideal leader to drive our next chapter of growth in the country.”
Rao brings over two decades of experience across technology platforms, venture capital and developer ecosystems. He was previously part of the leadership team at Amazon Web Services, where he led strategy and corporate business development across Asia-Pacific and Japan. He also served as a partner at Lightspeed Venture Partners, working closely with startups and founders.
Earlier in his career, Rao played a key role in building developer ecosystems at Symbian, Nokia and Google, contributing to the growth of major mobile and internet platforms.
With India’s large youth population and rapidly evolving digital landscape, Roblox’s latest leadership move signals a sharper focus on long-term growth, local relevance and creator-led innovation in the market.
