Telecom operator Bharti Airtel paid Rs. The company said on Wednesday it said 8,312.4 crore to the Department of Telecommunications (DoT) for spectrum fees collected in recently concluded 5G auctions.
With payment, Airtel paid four years of universal 2022 fees in advance.
Airtel said it believes this upfront payment, along with a four-year suspension of spectrum fees and AGR-related payments (adjusted gross revenue), will free up cash flow in future and allows Airtel to dedicate resources to focus entirely on 5G deployment.
Bharti Airtel by telecom tycoon Sunil Bharti Mittal has successfully bid Rs. 43,039.63 crore.
“This 4-year upfront payment allows us to accelerate 5G rollout synchronously with our free cash flow. Airtel also has access to 15,740.5 crore of capital from rights, equity, and equity. has not been called yet.
“With our ideal spectrum bank, best-in-class technology and full free cash flow, we are excited to bring the country a world-class 5G experience,” said Bharti Airtel MD and Gopal Vittal CEO. said in the statement.
The company had an option to pay Rs. 3,848.88 crore upfront and the rest in 19 annual installments.
The country’s largest ever telecom spectrum auction received a record Rs. Bid of 1.5 lakh crore, with Mukesh Ambani Jio put almost half of the sell wave with Rs. 87,946.93 crore bid.
Over the past year, Airtel said it also cleared Rs. 24,333.7 percent of its deferred payment spectrum before the expected maturity.