Connect with us

Headlines of the Day

Airtel pays ₹7,904 crore to DoT to settle high-cost spectrum debts

Bharti Airtel Ltd. announced that it has prepaid Rs 7,904 crore to the Department of Telecom, as per an exchange filing. With this, the company has fully prepaid all deferred liabilities pertaining to spectrum acquired in auction of the year 2012 and 2015, which were at a highest interest cost of 9.75% and 10%, respectively.

On June 11, the company disclosed that it had converted foreign debt bonds amounting to Rs 417 crore, issued in January 2020, into equity shares.

Back in January 2020, Airtel raised $1,000 million through foreign currency convertible bonds. These bonds were designed to convert into the company’s fully paid-up equity shares valued at Rs 5 each.

According to regulatory filings, FCCB holders had the option to convert these bonds into equity shares starting from Feb. 27, 2020, until the close of business on Feb. 7, 2025. NDTV Profit

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!