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Airtel prepays in full deferred liabilities from 2012, 2015 auctions
Livemint
·
1y ago
Medial
Bharti Airtel has announced that it has prepaid all its deferred liabilities for spectrum acquired in auctions in 2012 and 2015. The prepayment included a sum of ₹7,904 crore. This move is expected to save costs for the company, as it was paying high interest rates. Airtel had acquired spectrum in previous auctions which had liabilities due in annual instalments with an interest rate of 10%. Earlier this year, Airtel prepaid ₹8,325 crore to clear part of its deferred liabilities for the spectrum acquired in 2015.
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Related News
Airtel prepays ₹8,024 cr in spectrum fees
Livemint
·
1y ago
Medial
Bharti Airtel, India's second-largest telecom services provider, prepaid ₹8,325 crore to the government as part of its deferred spectrum liabilities from 2015. The advance payment will help save costs for the company. Airtel had acquired 111.6 MHz of spectrum for ₹29,130.20 crore in the 2015 auctions, of which ₹7,832.58 crore was paid upfront at the time. The company has already prepaid dues for previous auctions and is yet to pay the remaining ₹10,000-12,000 crore for the 2015 spectrum.
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Airtel prepays Rs 7,900 cr to fully clear 2012, 2015 spectrum auction dues
Money Control
·
1y ago
Medial
Bharti Airtel has paid Rs 7,904 crore to the Department of Telecom, clearing all its deferred liabilities for acquiring spectrum between 2012 and 2015. This payment fully prepaid all the liabilities related to the auction, which had an interest cost of 9.75% and 10%. Earlier in January, Airtel had prepaid Rs 8,325 crore towards its deferred liabilities. The total dues for the 2015 auction were estimated to be Rs 10,000 crore to Rs 12,000 crore.
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Airtel to lead on spectrum bids in the upcoming auctions in May
Thehindubusinessline
·
1y ago
Medial
Bharti Airtel is expected to be the leading bidder in the upcoming spectrum auctions in India in May. With renewal requirements for 42MHz of spectrum, the company could spend around ₹3,800 crore at reserve prices. Analysts predict that Airtel may focus on renewals and selectively bid on certain circles to increase its market share. The absence of the 700MHz band should alleviate concerns about overspending by Airtel. Meanwhile, Vodafone Idea may choose not to bid for renewals in the 1800MHz band. The upcoming tariff hikes post elections will also be important for the industry's growth.
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Dialog Axiata to buy Bharti Airtel's telecom operations in Sri Lanka
VCCircle
·
1y ago
Medial
Telecom operator Dialog Axiata has agreed to acquire Bharti Airtel's telecom operations in Sri Lanka. As part of the deal, Dialog Axiata will issue Bharti Airtel a 10.4% stake in its company, while acquiring full ownership of Airtel Lanka. The agreement is subject to approval from Dialog Axiata's shareholders and the Colombo Stock Exchange. Airtel Lanka contributed only 0.2% of Bharti Airtel's consolidated turnover in the previous fiscal year.
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Telcos divided over allocation of microwave backhaul airwaves
Economic Times
·
1m ago
Medial
Telecom companies in India are divided over the allocation of microwave backhaul airwaves essential for 5G rollout and digital transformation. Bharti Airtel and Vodafone Idea favor administrative allocation, aligning with tech players, while Reliance Jio advocates for auctions to prevent spectrum hoarding. There are calls to rationalize backhaul spectrum pricing, given current high charges. Meanwhile, satellite players stress on coexistence strategies, and stakeholders urge deferring regulatory decisions on specific bands until post-World Radiocommunication Conference 2027.
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Elon Musk backs India’s spectrum allocation for satellite broadband: A win for Starlink, a blow to Jio and Airtel?
Livemint
·
9m ago
Medial
Elon Musk has shown support for India's decision to allocate spectrum for satellite broadband instead of auctioning it. The move, which aligns with global standards, could facilitate the entry of satellite providers such as Starlink into the Indian market. This decision is a blow to Indian telecom giants Jio and Airtel, who have advocated for auctions similar to those used in terrestrial networks. However, the government's allocation approach may provide an advantage for international players like Starlink in obtaining an operating license in India.
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Another techie shares domain story about Reliance Jio, says: ‘It doesn’t always work that way…’
Livemint
·
9m ago
Medial
An app developer from Delhi recently bought the rights to the Jiohotstar domain and negotiated with Reliance and Viacom18 for funding his college tuition. Another techie, Amit Bhawani, has also shared a similar experience with Reliance regarding the Jio domain. Bhawani registered the domains http://reliancejio.com and http://riljio.com in 2012, before Jio was officially announced in 2015. He received a legal notice from Reliance in 2014, claiming he was holding their trademarked property. Bhawani eventually handed over the domains without any complications.
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Meesho Closes Another $250-270 Mn Round
Inc42
·
6m ago
Medial
E-commerce platform Meesho has successfully closed a funding round of $250-270 million, attracting new investors like Tiger Global and Think Investments, bringing the total to approximately $550 million. This funding is primarily for covering tax liabilities related to its planned reverse merger with its Indian unit, Fashnear Technologies. The deal values Meesho at around $3.9-4 billion, a decline from its previous valuation of $4.9 billion. Founded in 2015, Meesho boasts over 1.5 million sellers and 140 million annual transacting users. The company aims to file IPO papers in late 2025, with a potential listing in 2026, pending regulatory approval.
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Dunzo caps salaries at ₹75,000 for June amid severe cash crunch: Report
Money Control
·
2y ago
Medial
Dunzo, facing financial difficulties, implemented a salary cap of ₹75,000 per month for employees in June. However, CEO Kabeer Biswas assured the employees that their pending dues would be settled by July 20. The company confirmed that all employees earning below ₹75,000 would receive their full salaries. Previously, it was reported that Dunzo had deferred salaries for approximately 500 employees.
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Vodafone Idea seeks urgent Supreme Court hearing on revenue dues
Livemint
·
1y ago
Medial
Vodafone Idea (Vi) has requested the Supreme Court to urgently consider its curative petition against a previous court order regarding its adjusted gross revenue (AGR) dues. The company is seeking clarity on its liabilities in order to raise debt funding. Vi argues that the Department of Telecommunications made errors in calculating the final demand and that it was not given a hearing before the penalty was imposed. Both Vi and Bharti Airtel filed curative petitions in September 2021, following a Supreme Court order requiring telecom companies to pay their AGR dues over a 10-year period.
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