Bharti Airtel has decided to mobilize up to Rs 32,000 crore or $4.5 billion through rights issue of up to Rs 25,000 crore and Perpetual Bond with equity credit up to Rs 7,000 crore.

Rights issue price will be Rs 220 per equity share including a premium of Rs 215 per equity share over face value of Rs 5 per share, Airtel deputy company secretary Rohit Krishan Puri said in a notification to Indian stock exchanges.

Vodafone Idea in January said it would be generating up to Rs 25,000 crore or $3.5 billion through a rights issue to build network expansion. The promoters — the Vodafone Group and the Aditya Birla Group — aim to contribute up to Rs 11,000 crore and Rs 7,250 crore, respectively.