According to Bharti Airtel, its board will decide on converting over Rs 410 crore of adjusted gross revenue (AGR) dues into equity only after the Department of Telecommunications (DoT) confirms whether such a conversion is permissible. If approved, this could result in the government acquiring a 2-4 per cent stake in the company.
Airtel also expressed interest in acquiring additional stake in Airtel Africa, calling it a high-quality, dividend-yielding asset. Airtel had already increased its stake in the Africa business to over 62 per cent earlier this year by purchasing an additional 5 per cent.
Meanwhile, on the domestic front, the telco advocated for another round of industry-wide tariff hikes, suggesting a fundamental overhaul of the current pricing structure. It proposed significantly cutting data allowances on non-entry-level packs and charging higher tariffs from heavy data users. However, it noted that pricing reforms should not be taken in isolation.
The telco further mentioned that Airtel’s capital expenditure is expected to decline this fiscal year, primarily due to a sharp slowdown in rural rollouts. Still, the company plans targeted radio network deployments in challenger circles such as Madhya Pradesh, Maharashtra, and Gujarat, along with selective 5G expansion.
