Airtel prepays Rs 8,325 cr to clear 2015 spectrum acquisition liabilities

Bharti Airtel has prepaid Rs 8,325 crore to the Department of Telecom towards part prepayment of the deferred liabilities pertaining to spectrum acquired in the 2015 auction, the company said on Tuesday.

Bharti Airtel won spectrum worth Rs 29,129.08 crore in the auctions that were held in March 2015. The company had paid Rs 11,374.7 crore, while the upfront amount due was Rs 7,832.20 crore.

"Bharti Airtel has prepaid Rs 8,325 crores to the Department of Telecom (Government of India) towards part prepayment of the deferred liabilities pertaining to spectrum acquired in the auction of the year 2015, which were at an interest cost of 10 per cent," the company said in a statement.