Bharti Airtel has paid Rs 83.12 billion to the Department of Telecommunications (DoT) towards dues for spectrum acquired in the recently concluded 5G spectrum auctions. The operator has paid four years of 2022 spectrum dues upfront.
According to the company, the aforesaid upfront payment coupled with the moratorium on spectrum dues and adjusted gross revenue (AGR) related payments for four years will free up future cash flows and allow Airtel to dedicate resources to single-mindedly concentrate on the 5G roll out.
Commenting on the development, Gopal Vittal, MD and CEO, Bharti Airtel Limited, said, “This upfront payment of 4 years allows us to drive 5G rollout in a concerted manner given our operating free cash flow. Airtel also has access to Rs 157.41 billion in capital from the rights issue which is yet to be called. With the ideal spectrum bank, best technology and adequate free cash flow, we are excited to bring to the country a world class 5G experience.”
