Bharti Airtel Prepays Rs 7,904 Crore to DoT, Clears 2012, 2015 Spectrum Liabilities

Airtel clears high-cost deferred liabilities from spectrum auctions in 2012 and 2015, reducing its debt and interest burden.

Highlights

  • Clears deferred liabilities from 2012 and 2015 spectrum auctions.
  • Reduces interest costs of 9.75 percent and 10 percent.
  • Previous prepayments of Rs 8,325 crore and Rs 8,024 crore in 2023 and 2024.

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Bharti Airtel Prepays Rs 7,904 Crore to DoT, Clears 2012, 2015 Spectrum Liabilities
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.

Also Read: Airtel Enhances Network in Gujarat With Over 2500 New Cell Towers




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.

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