Indian telecom operator Bharti Airtel has paid Rs 8312.4 crore to the Department of Telecom (DoT) towards dues for 5G spectrum acquired in the recently concluded 5G auctions.
Airtel has paid 4 years of 2022 spectrum dues upfront. The company believes that this upfront payment coupled with the moratorium on spectrum dues and 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.
Over last one year, Airtel has also cleared Rs 24,333.7 crore of its deferred spectrum liabilities much ahead of scheduled maturities.
“This upfront payment of 4 years allows us to drive 5G network rollout in a concerted manner given our operating free cash flow. Airtel also has access to Rs 15,740.5 crore in capital from the rights issue which is yet to be called,” Bharti Airtel CEO Gopal Vittal said.
