Airtel prepays ₹3,626 crore to clear spectrum dues from 2016

Bharti Airtel has prepaid ₹3,626 crore to the Department of Telecommunications (DoT), clearing all spectrum dues for airwaves acquired in the 2016 auction, the telecom major said on Thursday. With this prepayment, Airtel has now fully repaid all spectrum dues that carried interest costs exceeding 8.65%, the company said in a statement.

"Bharti Airtel has prepaid Rs 3,626 crore to the Department of Telecom (Government of India) clearing all its liabilities for spectrum it had acquired in 2016," the statement read.

Airtel has prepaid a total of ₹28,320 crore of spectrum liabilities this calendar year, the company said.

In June, the company prepaid ₹7,904 crore to clear deferred liabilities for spectrum acquired in the 2012 and 2015 auctions, where interest rates were higher at 9.75% and 10%, respectively.

Earlier this year, Airtel also prepaid ₹8,325 crore, clearing part of its deferred liabilities for spectrum purchased in the 2015 auctions.

On Wednesday, Bharti Airtel announced that it has become the first private telecom operator to launch mobile services in around seven border villages of Kupwara, Baramulla and Bandipore districts of Jammu and Kashmir.

"These villages are located in the Keran, Machhal, Tangdhar, Gurez, and Uri valley regions, spanning the three districts of Kupwara, Baramulla, and Bandipore. Airtel is the only private telecom operator providing its services in these regions," Bharti Airtel said in a statement.

Shares of Bharti Airtel closed nearly flat at ₹1,599 apiece on the BSE on Thursday.