Vodafone Idea Limited (Vi) has been granted a waiver on bank guarantee requirements for spectrum auctions from the Department of Telecommunications (DoT), freeing up Rs 248 billion for the company, which will aid the expansion of 4G and 5G networks in India. This waiver covered auctions from 2012, 2014, 2016, and 2021.
The DoT had announced a waiver of bank guarantees worth Rs 330 billion to Reliance Jio, Bharti Airtel, and Vi, with Vi receiving the majority of the relief, amounting to Rs 248 billion.
In addition, Vi has reported a one-time partial shortfall in the 2015 auction, where the net present value of payments is less than the pro-rated spectrum usage value.
