Bharti Airtel Prepays ₹8,465 Cr To Clear Spectrum Liabilities
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Bharti Airtel has made a strategic financial move by prepaying ₹8,465 crore to the Department of Telecom, thereby clearing high-cost deferred liabilities for spectrum acquired in 2016.

What Happened: As per a press release on September 30, 2024, Bharti Airtel has prepaid ₹8,465 crore to the Department of Telecom. This payment was directed towards the clearance of high-cost deferred liabilities for the spectrum the company acquired in 2016. These liabilities carried an interest rate of 9.3%.

Previously in June, the company prepaid ₹7,904 crore to the telecom department. By that payment, the company cleared deferred liabilities for the spectrum acquired in 2012 and 2015 and the interest rates cost of 9.75% and 10% respectively.

See Also: This Retired IAS Officer’s First Job Was With TCS Back In 1984 — His Salary Was…

In January 2024, the company paid ₹8,325 crore to clear the liabilities for the airwaves bought in the 2015 auction as well.

In September, the company’s market capitalisation surpassed ₹10 lakh crore, becoming the fourth Indian company to achieve the feat.

Price Action: Shares of Bharti Airtel closed 1.23% down at ₹1,713.35.

Read Next: Technical Analysts Sees Yes Bank Dropping To ₹17


Engineered by Benzinga Neuro, Edited by Ananthu CU


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
EquitiesNewsMarketsBharti Airtel