Bharti Airtel pays ₹8,312 crore for 5G spectrum upfront

By IANS English | Published 17 Aug 2022 16:53 IST
Bharti Airtel pays ₹8,312 crore for 5G spectrum upfront
Bharti Airtel pays ₹8,312 crore for 5G spectrum upfront

Chennai, Aug 17 (IANS) Telecom major Bharti Airtel on Wednesday said it has paid ₹8,312.4 crore to the Centre towards dues for spectrum acquired in the recently concluded 5G auctions.

The company has paid four years of 2022 spectrum dues upfront.

According to the company, the upfront payment coupled with the moratorium on spectrum dues and adjusted gross revenue (AGR) related payments for four years, will free up future cash flows and allow it to dedicate resources to single-mindedly concentrate on the 5G roll out.

Over the last one year, Bharti Airtel has also cleared ₹24,333.7 crore of its deferred spectrum liabilities much ahead of scheduled maturities.

According to Gopal Vittal, Managing Director (MD) and Chief Executive Officer (CEO), the company also has access to ₹15,740.5 crore in capital, from the rights issue which is yet to be called.

(Except for the headline, the rest of this IANS article is un-edited)

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5G 5G in India 5G India