NEW DELHI: Bharti Airtel Limited (Airtel) on Wednesday, August 17, said it has paid Rs 8,312.4 crore to the Department of Telecom (DoT) towards dues for spectrum acquired in the recently concluded 5G auctions.
The conglomerate said it has paid four years of 2022 5G spectrum dues upfront.

"This upfront payment of four years permits us to drive 5G rollout in a concerted manner in the light of our operating free cash flow," said Gopal Vittal, MD and CEO, Bharti Airtel. The company  also has access to Rs 15,740.5 crore in capital from the rights issue (RI) which is yet to be called.

With the best technology, the right spectrum bank, and sufficient free cash flow, Vittal added, "We are pleased to provide to the country a world-class 5G experience." 

Airtel has paid off Rs 24,333.7 crore of its deferred spectrum liabilities during the past year well in advance of its planned maturity dates. The upfront payment, along with a four-year suspension on spectrum dues and AGR-related payments, will reportedly free up future cash flows and permit Airtel to allocate resources to solely focus on the rollout of 5G.

The Indian government sold 5G spectrum valued over Red 1.50 lakh crore, led by Reliance Jio, Airtel, Vodafone Idea and a unit of Adani Group.

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