Bharti Airtel prepays Rs 8,465 crore to DoT, clears liabilities against spectrum acquired in 2016

Leading telecommunications service provider Bharti Airtel on Monday announced that it has prepaid Rs 8,465 crore to the Department of Telecom, Government of India in order to clear its deferred dues against spectrum acquired in 2016. These liabilities carried an interest rate of 9.3 percent, and the prepayment will reduce the company’s debt burden and optimise financial costs.

“Bharti Airtel (Airtel), one of India’s leading telecommunications service providers, today said that it has prepaid Rs 8,465 crores to the Department of Telecom (Government of India) against spectrum acquired in 2016. These liabilities carried an interest rate of 9.3 per cent,” the company said in a regulatory filing.