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Home Gadgets Department of Telecom Said to Receive Rs. 17,876 Crore for 5G Spectrum

Department of Telecom Said to Receive Rs. 17,876 Crore for 5G Spectrum

The Division of Telecom (DoT) has acquired upfront fee of round Rs 17,876 crore from Bharti Airtel, Reliance Jio, Adani Information Networks and Vodafone Concept for spectrum they received in a latest public sale, based on sources. Whereas all telecom operators have opted to make funds in 20 annual installments, Bharti Airtel has paid Rs 8,312.4 crore equal to 4 annual installments.

Reliance Jio has made fee of Rs. 7,864.78 crore, Vodafone Idea Rs. 1,679.98 crore and Adani Information Networks Rs. 18.94 crore.

“DoT has acquired a complete fee of round Rs. 17,876 crore. Solely Bharti Airtel has paid for 4 annual installments at one go,” an official supply mentioned.

The nation’s biggest-ever public sale of telecom spectrum acquired a document Rs. 1.5 lakh crore price of bids, with Mukesh Ambani’s Jio cornering almost half of all airwaves bought with a Rs. 87,946.93 crore bid.

Gautam Adani’s group has positioned bids price Rs 211.86 crore for the 400 MHz in a band that’s not used for providing public telephony providers.

Telecom tycoon Sunil Bharti Mittal’s Bharti Airtel made a profitable bid of Rs. 43,039.63 crore, whereas Vodafone Concept Ltd purchased spectrum for Rs. 18,786.25 crore.

On Wednesday, telecom operator Airtel announced that it had paid Rs. 8,312.4 crore to the Division of Telecom in direction of dues for spectrum acquired within the lately concluded 5G auctions.

With the fee, Airtel has paid 4 years of 2022 spectrum dues upfront. The corporate had an choice to pay Rs. 3,848.88 crore upfront and the remainder in 19 annual instalments.

Airtel mentioned it believes that this upfront fee, coupled with the moratorium on spectrum dues and AGR (adjusted gross income)-related funds for 4 years, will liberate future money flows and permit Airtel to dedicate sources to single-mindedly consider the 5G rollout.

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