Private telecom operator Bharti Airtel informed on August 17 that it has paid 8,312.4 crore to DoT for spectrum received in the recently concluded 5G auction.
Along with the payment, the telco has made advance payment of four years of 2022 spectrum dues.
According to Bharti Airtel, advance payments, moratorium on spectrum dues and AGR (adjusted gross revenue) related payments for four years, will free up future cash flows and allow Airtel to devote resources to focus on 5G. Will give roll out.
Read also: Airtel plans pan-India 5G coverage by March ’24
Earlier, Bharti Airtel led by business tycoon Sunil Bharti Mittal had launched . had made a successful bid of 43,039.63 crore.
“This 4 year upfront payment allows us to drive the 5G rollout in a solid manner given our operating free cash flow. Airtel also has access to 15,740.5 crore in capital from the rights issue, which is yet to be called,” Gopal Vittal, MD and CEO, Bharti Airtel said in the statement.
“With the ideal spectrum bank, best-in-class technology and ample free cash flow, we are excited to bring a world-class 5G experience to the country,” Vittal said.
Although the firm had the option to pay 3,848.88 crore in advance and the balance in 19 annual instalments.
In July, in 5G auction, DoT got a record Bids worth 1.5 lakh crore, nearly half of all airwaves sold with Mukesh Ambani’s Jio 87,946.93 crore bid.
Meanwhile, Bharti Airtel had said that in the last one year, it has approved 24,333.7 crore of its deferred spectrum liabilities, much ahead of the stipulated maturity.
With PTI input.
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