Highlight
- Telecom operator Bharti Airtel has paid Rs 8,312.4 crore to the Department of Telecommunications
- The dues were paid for the spectrum received in the recently concluded 5G auctions
- airtel has paid the spectrum dues for the four years of 2022
Telecom operator Bharti Airtel has paid Rs 8,312.4 crore to the Department of Telecom for spectrum it acquired in the recently concluded 5G auction, the company said on Wednesday. Along with the payment, Airtel has made advance payment of four years of 2022 spectrum dues. Airtel said it believes it will allow advance payments, moratorium on spectrum dues and AGR (adjusted gross revenue) related payments for four years, freeing up future cash flows and allowing Airtel to dedicate resources. will allow us to focus on 5G. roll out.
Telecom tycoon Sunil Bharti Mittal’s Bharti Airtel made a successful bid of Rs 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 has access to Rs 15,740.5 crore in capital from the rights issue, which is yet to be called.
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Gopal Vittal, MD & CEO, Bharti Airtel said in the statement, “With the ideal spectrum bank, state-of-the-art technology and ample free cash flow, we are excited to bring a world-class 5G experience to the country.” The company had the option to pay Rs 3,848.88 crore in advance and the balance in 19 annual instalments. The country’s biggest ever auction of telecom spectrum received bids worth a record Rs 1.5 lakh crore, with Mukesh Ambani’s Jio bagging nearly half of all airwaves sold with a bid of Rs 87,946.93 crore. In the past one year, Airtel said it has paid Rs 24,333.7 crore of its deferred spectrum liabilities much before the stipulated maturity period.
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