Indian telecommunications company Bharti Airtel on Friday, June 14th, announced that it has prepaid Rs 7,904 crore to the Department of Telecom (DoT) to clear high-cost deferred liabilities for spectrum acquired in 2012 and 2015.
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Airtel Settles High-Cost Deferred Liabilities
In a stock exchange filing today, the company said it has fully prepaid all deferred liabilities pertaining to spectrum acquired in the auctions of 2012 and 2015, which carried the highest interest costs of 9.75 per cent and 10 per cent, respectively.
Also Read: Airtel Prepays Rs 8,325 Crores for Spectrum Auction 2015 Liabilities
Previous Prepayments in 2023 and 2024
Earlier this year, in January 2024, the company prepaid Rs 8,325 crore to the telecom department to clear part of its deferred liabilities for the spectrum it acquired in the 2015 auction, TelecomTalk reported. Airtel had bought spectrum worth Rs 29,129 crore in the auction, paying Rs 7,833 crore upfront.
Also Read: Airtel Prepays Rs 8,024 Crores to Clear 2015 Spectrum Liabilities
In July 2023, Bharti Airtel prepaid Rs 8,024 crore to the DoT, contributing to the partial prepayment of the deferred liabilities for the spectrum acquired in the 2015 auction, which incurred an interest cost of 10 per cent.
