The Department of Telecommunications (DoT) has received over Rs 178.73 billion from telcos towards 5G spectrum dues. Bharti Airtel has paid nearly half of the total amount (Rs 83.12 billion) in advance payments for four years to free up cash for future investments.
Meanwhile, Reliance Jio and Vodafone Idea Limited (Vi) paid Rs 78.64 billion and Rs 16.8 billion, respectively, while Adani Data Networks has reportedly paid Rs 180 million. The first payout toward 5G spectrum by auction participants surpassed the DoT’s initial calculation of Rs 133.65 billion.
Commenting on the development, Gopal Vittal, MD and CEO, Airtel, said, “This upfront payment of four 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.”
