Bharti Airtel Limited has successfully completed the conversion of 391,176,994 partly paid-up equity shares into fully paid-up equity shares following the receipt of final call payments. The telecommunications company received an aggregate amount of ₹156,959.77 million from eligible shareholders who responded to the first and final call payment process.

Corporate Actions and Trading Commencement

The company has completed necessary corporate actions for credit of 390,998,501 fully paid-up equity shares to the demat accounts of eligible shareholders. Following receipt of listing and trading approvals from National Stock Exchange of India Limited and BSE Limited, these shares will be available for trading with effect from Monday, March 23, 2026, under ISIN INE397D01024.

Technical Delays and Outstanding Shares

Corporate actions for 178,493 partly paid-up equity shares could not be completed at the Depositories' end due to technical errors in the demat accounts of concerned shareholders. The company will take appropriate steps to convert such shares to fully paid-up equity shares in due course, upon request from affected shareholders.

Conversion Process Details

The Special Committee of Directors for Rights Issue approved the conversion of the partly paid-up equity shares on March 18, 2026. The conversion process transforms shares with a paid-up value of ₹1.25 each into fully paid-up equity shares of ₹5 face value each, pursuant to the Letter of Offer dated September 22, 2021.

Regulatory Compliance and Future Actions

Company Secretary & Compliance Officer Rohit Krishan Puri has overseen the regulatory compliance process, ensuring proper notification to both stock exchanges regarding the conversion completion. The converted shares will rank pari passu with existing fully paid-up equity shares.

Despite the successful conversion of the majority of partly paid-up shares, the company has indicated it will issue reminder notices for remaining unpaid shares in due course, following applicable laws and subject to necessary approvals from the Board or its authorized Committee. The conversion represents a significant milestone in Bharti Airtel's capital restructuring process, strengthening the company's equity base while providing clarity on the capital structure for investors and market participants.

Bharti Airtel Limited has received a penalty notice of Rs 6,83,000 from the Department of Telecommunications for alleged violations of subscriber verification norms. The telecommunications major disclosed this development through a regulatory filing under Regulation 30 of SEBI Listing Regulations on March 17, 2026.

Official Regulatory Filing and Documentation

The penalty notice was issued by the Department of Telecommunications, Andhra Pradesh LSA and was received by the company on March 17, 2026 at 1807 Hrs IST. The regulatory disclosure was made to both National Stock Exchange of India Limited and BSE Limited, with the filing signed by Rohit Krishan Puri, Company Secretary & Compliance Officer. The company submitted detailed information in Annexure A format as part of the official documentation.

Regulatory Compliance Framework and CAF Audit

Under the terms of its license agreement, Bharti Airtel is required to ensure adequate verification of customers before enrolling them as subscribers and comply with instructions issued by DoT in this regard. The Department of Telecommunications conducts periodic Customer Application Form Audit (CAF Audit) to confirm compliance with licensing terms and conditions related to subscriber verification processes.

DoT conducted CAF Audit for January 2026 and has alleged violation of terms and conditions with respect to the subscriber verification norms under the License Agreement. This audit process is part of the regular oversight mechanism to ensure telecommunications operators maintain strict compliance standards.

Company's Response and Financial Impact

Unlike previous instances where the company indicated disagreement with penalty notices, Bharti Airtel has opted not to contest this penalty and will pay the amount. The company has stated that the maximum financial impact or implication is limited to the extent of the penalty levied, which amounts to Rs 6,83,000.

Stock Exchange Communication Details

The disclosure was made pursuant to Regulation 30 read with Clause 20 of Para A of Part A of Schedule III of SEBI Listing Regulations. The filing was submitted to NSE with symbol BHARTIARTL/AIRTELPP and to BSE with scrip code 532454/890157. The company declared that all information provided is true, correct and complete to the best of its knowledge and belief.

This development highlights the ongoing regulatory oversight in India's telecommunications sector, where operators must maintain strict compliance with subscriber verification norms as part of their licensing obligations.