Bharti Airtel Clears 2016 Spectrum Liabilities by Paying ₹3,626 crores

Bharti Airtel has prepaid an amount of ₹3,636 crore to the Department of Telecom (Government of India), thereby clearing its dues for the spectrum acquired in the 2016 auction. Following this, Airtel has settled all its outstanding liabilities, which attracted an interest rate of 8.65%.

During this calendar year, Sunil Mittal-promoted telecom operator made payments worth ₹28,320 crore towards spectrum liabilities. In June, the telecom carrier prepaid all its deferred liabilities for spectrum acquired in the 2012 and 2015 auction. The amount totalled to ₹7,904 crore.

Previously, Airtel cleared part of its deferred liabilities for the spectrum acquired in the 2015 auctions amounting ₹8,325 crore.

Shares of Bharti Airtel closed at ₹1,500, down 0.18% today.