Airtel pays Rs. 8.3 Crore to DoT as advance payment for recently purchased 5G spectrum

Telecom operator Bharti Airtel has paid Rs. 8,312.4 crores to the Department of Telecommunications (DoT) for spectrum rights acquired in the recently concluded 5G auction, the company announced on Wednesday.

With the payment, Airtel has prepaid four years of 2022 spectrum rights.

Airtel said it believes this upfront payment, combined with the spectrum royalty moratorium and AGR (Adjusted Gross Revenue) related payments for four years, would free up future cash flow and allow Airtel to spend resources to focus resolutely on 5G. go out.

Telecom tycoon Sunil Bharti Mittal Bharti Airtel has made a successful bid of Rs. 43,039.63 crores.

“This 4-year upfront payment allows us to drive the 5G rollout in a concerted manner given our operating free cash flow. Airtel also has access to Rs. 15,740.5 crore of capital from the issuance of rights, which has not yet been called.

“With the ideal spectrum bank, the best technology and adequate free cash flow, we are excited to bring the country a world-class 5G experience,” Bharti Airtel MD and CEO Gopal Vittal said in the statement.

The company had the option to pay Rs. 3,848.88 crores in advance and the rest in 19 annual installments.

The country’s largest-ever telecommunications spectrum auction has received a record rupees. 1.5 lakh crore bid, with Mukesh Ambani’s Jio hogging almost half of all airwaves sold with Rs. 87,946.93 crore bid.

In the past year, Airtel said it also cleared Rs. 24,333.7 crore of its deferred spectrum liabilities well ahead of scheduled maturities.


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