Bharti Airtel rings loud on paying Rs 8312.4 crore for 5G spectrum to DoT

Bharti Airtel is currently trading at Rs. 718.30, up by 14.50 points or 2.06% from its previous closing of Rs. 703.80 on the BSE.

The scrip opened at Rs. 706.00 and has touched a high and low of Rs. 718.30 and Rs. 702.80 respectively. So far 73320 shares were traded on the counter.

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Bharti Airtel

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 781.90 on 24-Nov-2021 and a 52 week low of Rs. 572.69 on 26-Aug-2021.

Last one week high and low of the scrip stood at Rs. 723.40 and Rs. 700.70 respectively. The current market cap of the company is Rs. 425343.19 crore.

The promoters holding in the company stood at 55.93%, while Institutions and Non-Institutions held 38.76% and 5.31% respectively.

Bharti Airtel has paid Rs 8312.4 crore to the Department of Telecom (DoT) towards dues for spectrum acquired in the recently concluded 5G auctions. The company has paid 4 years of 2022 spectrum dues upfront. This upfront payment coupled with the moratorium on spectrum dues and AGR related payments for four years will free up future cash flows and allow Airtel to dedicate resources to single-mindedly concentrate on the 5G roll out. Over last one year, Airtel has also cleared Rs 24,333.7 crores of its deferred spectrum liabilities much ahead of scheduled maturities.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.

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