Bharti Airtel Pre-pays $1 Billion for 2015 Spectrum

24 Jan 2024 , 03:19 PM

Bharti Airtel prepaid 83.25 billion rupees ($1.00 billion) to the Indian government’s telecom department for 2015 auction airwaves.

The payment carried a 10% interest rate, as per the exchange filing by Airtel, India’s second-largest telecom operator. In the 2015 auction, Airtel acquired Spectrum valued at 291.29 billion rupees, making an upfront payment of 78.33 billion rupees.

Additional prepayments were made in March 2022 (88.15 billion rupees) and July 2023 (80.24 billion rupees). Airtel revealed dues of 100 billion rupees to 120 billion rupees for the 2015 auction during an investor meet in November 2023. The company, however, did not disclose the remaining amount required to fully clear these dues.

For feedback and suggestions, write to us at [e-mail]