Bharti Airtel to DoT: Will not avail the option for conversion of interest on deferred spectrum, AGR dues into equity

7 Jan 2022 , 03:52 PM

Bharti Airtel on Friday announced that the company has confirmed to DoT that it will not avail the option of conversion of the interest on the deferred spectrum and AGR dues into equity.

In October last year, Airtel opted for a four-year moratorium on adjusted gross revenue (AGR) and spectrum dues, however, the telecom service providers were asked to pay interest on these dues in the moratorium period.

Thereby, in October, the Department of Telecommunications had asked Airtel whether the company wanted to take the option of converting the interest amount pertaining into equity for AGR and spectrum dues of the moratorium period.

As per reports, as of March 2021, Airtel has made payment of Rs18,004cr as AGR dues to the DoT.

On Sensex, Airtel stock finished at Rs704.70  per piece down by 0.8%.