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This is an archive article published on June 14, 2024

Airtel prepays Rs 7,904 cr dues against spectrum acquired in 2012, 2015

Airtel acquired spectrum worth Rs 8.67 crore in 2012 and Rs 29,129 crore in 2015 auction.

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The consolidated net debt for the company, including the impact of leases, declined to Rs 2,04,646 crore as of March 31, 2024The consolidated net debt for the company, including the impact of leases, declined to Rs 2,04,646 crore as of March 31, 2024. (File Photo)

Telecom operator Bharti Airtel on Friday said it has prepaid the entire dues of Rs 7,904 crore for the spectrum it acquired in 2012 and 2015 to the Department of Telecom.

Airtel acquired spectrum worth Rs 8.67 crore in 2012 and Rs 29,129 crore in 2015 auction.

“Bharti Airtel…said that it has prepaid Rs 7,904 crore to the Department of Telecom. With this, the Company has fully prepaid all deferred liabilities pertaining to spectrum acquired in the auction of the year 2012 and 2015, which were at the highest interest cost of 9.75 and 10 per cent, respectively,” the company said in a statement.

The consolidated net debt for the company, including the impact of leases, declined to Rs 2,04,646 crore as of March 31, 2024, from Rs 2,13,126.4 crore as of March 31, 2024.

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