Airtel clears Rs 8,024 cr spectrum auction liabilities from ’15

Telecom giant Bharti Airtel made a significant step in its financial operations by prepaying yesterday Rs 8,024 crores to the Department of Telecom.

This prepayment was aimed at clearing the deferred liabilities linked to the spectrum it acquired during an auction held back in 2015.

According to an Airtel statement, the prepaid liabilities carried an interest rate of 10 percent. By settling these dues, the company aims to streamline its financial obligations and bolster its financial position, ANI reported.

Airtel emphasized that it currently maintains access to a diverse range of capital sources and financing options.

This enables the company to enjoy greater financial flexibility in managing its capital structure and optimizing the cost of financing. By seizing all opportunities for significant interest savings, Airtel seeks to reinforce its financial stability further.

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RU Ediriwira, Group CTO, NXTDigital Limited

“With the launch of Partnership for Growth 3.0 we intend to expand our network with 40 new NXTHUBs, each offering up to 650 live TV channels and broadband. Our efforts are focused on harnessing the convergence of technologies, developing robust apps and creating new business models that will help the overall ecosystem, delivering the best experience to our subscribers. We hope to achieve a stronger foothold in the rural regions of the country and grow our subscriber base.”

N.K. Rouse, COO, NXT Digital Ltd

“One of the key principles of the Hinduja Group is ‘Partnership for Growth’. After 2.0 saw the launch of HITS to connect LMOs in even the most remote locations through the only satellite-based cable TV platform in India; 3.0 focuses not just on strengthening the overall ecosystem we have built, but harnessing the convergence of technologies – to be delivered through a national network of NXTHUBs. Video and broadband are only the beginning of the digital highway of services that we have developed for roll-out backed by a robust suite of innovative apps developed by service providers exclusively for our LMOs and subscribers.”

Vynsley Fernandes, MD & CEO, NXTDigital Limited

“Wireline broadband is becoming ever more important not only in connecting homes across the country but also small to large enterprises-to the digital economy. The NXTHUBs will be the perfect point-of-presence to offer broadband services to cater to these consumer needs.”

Yugal Kishore Sharma CEO, ONEOTT Intertainment Limited

Amazing and grim battle for survival. Guess it will end up in Supreme Court. All that NCLT asked Zee to do was to file a reply to Invesco petition for a EGM. Now this is getting too serious. So far Invesco has been hammered for demanding an EGM. What is Zee upto? Ofcourse my lawyer community knows better!