Vodafone Idea Limited (Vi) has informed the Department of Telecommunications (DoT) that it plans to pay its second instalment for 5G spectrum acquired in last year’s auction by availing the 30-day grace period option available under the 5G spectrum sale rules.
In a filing with the Bombay Stock Exchange (BSE), Vi said that it has submitted a letter to DoT in which it has proposed to pay spectrum auction instalment of Rs 16.80 billion, which is due on August 17, 2023, to DoT, by availing the grace period of 30 days with interest, in accordance with the terms of notice inviting application (NIA) for auction of spectrum.
Vi purchased 5G spectrum worth Rs 187.99 billion in the auction. The telco has chosen to settle its dues to the government in 20 equal instalments and made the initial payment of Rs 16.8 billion in August 2022.
