Telecom company Bharti Airtel on Friday said it has made premature payment of Rs 8,815 crore to the government related to spectrum it had acquired in the 2015 auction.
The company said in a statement that the amount was due for the financial years 2026-2027 and 2027-2028. “An amount of Rs 8,815 crore relating to spectrum acquired in 2015 has been paid ahead of schedule,” the company said.
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In the last four months, Airtel has already paid Rs 24,334 crore before the due date. Interest is charged on this amount at the rate of 10 percent.
“Airtel paid Rs 8,815 crore to meet deferred liabilities for spectrum it acquired in 2015,” the company said. In the last four months, Airtel has paid Rs 24,334 crore of its deferred spectrum liabilities ahead of schedule.
These liabilities had an interest rate of 10 percent and have been paid for through a combination of free cash generated by the business, equity income, and fairly low-cost debt of a similar duration.
Airtel said it continues to focus on financial flexibility through its capital structure, which includes optimizing the cost of financing and capitalization across all opportunities for significant interest savings such as the latest prepayments.