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Bharti Airtel Clears ₹3,626 Crore Spectrum Dues from 2016

Updated on: Dec 20, 2024, 1:41 PM IST
Bharti Airtel prepaid ₹3,626 crore spectrum dues from 2016, reducing high-cost debt. Total 2024 prepayments reach ₹28,320 crore, strengthening financials.
Bharti Airtel Clears ₹3,626 Crore Spectrum Dues from 2016
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On December 19, Bharti Airtel informed the stock exchanges that it had prepaid ₹3,626 crores to the Department of Telecom, clearing all liabilities for spectrum acquired in 2016.

On December 20, 2024, Bharti Airtel share price opened at ₹1,610.00, up from its previous close of ₹1,600.30. At 9:54 AM, the share price of Airtel was trading at ₹1,611.45, up by 0.70% on the NSE.

Debt Details 

This move is part of Airtel’s strategy to reduce high-cost debt, as the prepaid dues carried interest rates above 8.65%. In 2024, Airtel has prepaid a total of ₹28,320 crores in spectrum liabilities, underscoring its commitment to strengthening its financial position.

This proactive step reduces the company’s financial burden and demonstrates its focus on optimising costs and maintaining fiscal discipline.

Meanwhile, in partnership with the Indian Army, Bharti Airtel has installed 15 mobile towers in North Kashmir’s Kupwara, Baramulla, and Bandipore districts near the Line of Control.

This initiative provides essential connectivity for local residents and soldiers, enabling improved communication for families and enhancing operational coordination. The project bridges communication gaps in these remote areas, supporting both civilians and military personnel.

It showcases a commitment to empowering underserved regions with better infrastructure and connectivity solutions, fostering stronger ties and more effective operations in strategically critical locations.

About Bharti Airtel

Airtel, headquartered in India, serves over 550 million customers across 15 countries, including India, Africa, Bangladesh, and Sri Lanka. It ranks among the top three global mobile operators, covering more than two billion people with its networks. As India’s largest integrated communications provider and Africa’s second-largest mobile operator, Airtel offers 4G/5G mobile broadband, Airtel Xstream Fiber with speeds up to 1 Gbps, and a portfolio of services including on-demand entertainment, music and video streaming, digital payments, and financial solutions.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 20, 2024, 10:05 AM IST

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