Airtel to acquire entire 400 Mhz spectrum of Adani Data Networks

Bharti Airtel on Tuesday, April 22 said the company along with its subsidiary Bharti Hexacom Limited will acquire rights to use entire 400 megahertz spectrum of Adani Data Networks.

Adani Data Networks (ADNL), a wholly-owned subsidiary of Adani Enterprises, had acquired 400 Mhz spectrum in 26 gigahertz band for about ₹212 crore through an auction held in 2022.

"Bharti Airtel Limited and its subsidiary Bharti Hexacom Limited have entered into definitive agreements with Adani Data Networks Limited (ADNL), a subsidiary of Adani Enterprises, to acquire rights to use of 400 MHz of spectrum in the 26 GHz band in Gujarat (100 MHz), Mumbai (100 MHz), Andhra Pradesh (50 MHz), Rajasthan (50 MHz), Karnataka (50 MHz) and Tamil Nadu (50 MHz)," the statement said.

Shares of Bharti Airtel closed in the red at ₹1,852.20 apiece, down 1.66% on the National Stock Exchange (NSE). The stock of Adani Enterprises closed 0.11% lower at ₹2,445.50 on Tuesday. However, the announcement was made after market hours.