Airtel prepays Rs 8,325 cr to DoT for spectrum acquired in 2015

Kolkata: Bharti Airtel has prepaid Rs 8,325 crore to the Department of Telecommunications (DoT), clearing a sizable chunk of the payment relating to spectrum bought in a 2015 auction.

This will help India’s second-largest telco save on interest costs annually and boost cash flows ahead of the next 5G spectrum sale likely around March. The Sunil Mittal-led telco needs to renew airwaves worth around Rs 4,200 crore that are expiring this year. Its upcoming airwave renewals are in the 900 MHz and 1800 MHz bands in six circles — J&K, Odisha, Bihar, UP-East, West Bengal and Assam.

“Airtel has prepaid Rs 8,325 crore to the DoT towards part prepayment of the deferred liabilities pertaining to spectrum acquired in auction of year 2015 which were at an interest cost of 10%,” the company said in a statement Tuesday.