Airtel prepays Rs. 8,024 crores to clear high cost deferred liabilities for spectrum acquired in 2015

Bharti Airtel ("Airtel"), one of India's leading telecommunications service providers, today said that it has prepaid Rs. 8,024 crores to the Department of Telecom (Government of India) towards part prepayment of deferred liabilities pertaining to spectrum acquired in auction of year 2015.

The said instalments had an interest rate of 10% and have been prepaid by Airtel, leveraging much lower cost financing available to it. Airtel continues to enjoy access to a well-diversified sources of capital / financing, allowing it to have enhanced financial flexibility in its capital structure including optimised cost of financing using all opportunities for significant interest savings, like this prepayment.

Shares of Bharti Airtel Limited was last trading in BSE at Rs. 890.25 as compared to the previous close of Rs. 894.70. The total number of shares traded during the day was 26245 in over 1841 trades.

The stock hit an intraday high of Rs. 897.85 and intraday low of 885.40. The net turnover during the day was Rs. 23379678.00.

Source : Equity Bulls

Keywords

BhartiAirtel INE397D01024 TelecomServices Prepayment HighCostLiability DoT