Indian telecom operator Bharti Airtel said on Monday that it prepaid Rs 8,023 crore ($976 million) to clear deferred liabilities for the spectrum acquired in a 2015 auction.
The instalments, which are being paid to India's telecom department for the spectrum, had an interest rate of 10 per cent, the company said in an exchange filing. Bharti Airtel had prepaid Rs 8815 crore in March 2022 to clear dues of the airwaves it bought in 2015 and Rs 15519 crore in December 2021 to fully repay dues for spectrum bought in 2014.
In India's $19-billion 5G spectrum auction held in July-August last year, Bharti Airtel secured spectrum worth Rs 43084 crore ($5.24 billion) out of which it has repaid Rs 8312 crore.
($1 = 82.2200 Indian rupees)
Published 31 July 2023, 09:04 IST