Second to Vodafone Idea, Airtel Accepts Moratorium on Spectrum & AGR Dues

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Second to Vodafone Idea, Airtel Accepts Moratorium on Spectrum & AGR Dues
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Indian telecom giant Bharti Airtel (NS: BRTI ) has sent its approval to the Department of Telecommunications (DoT) on deferring its spectrum auction installments and AGR dues for four years, on Friday. 

The telco has opted for the four-year moratorium on the spectrum and AGR dues, while choosing the option to prepay according to the NIA norms, stated a source.

This makes Airtel the second Indian telco after Vodafone Idea (NS: VODA ) to send its response to the relief package put in place by DoT.

The department under the Government of India announced a relief package in September for debt-laden Indian telecom players, which involved a four-year moratorium on AGR and spectrum payment dues, reduced bank guarantees, and removing SUC for airwaves that will be acquired in future auctions, among others.

DoT also recently reached out to telcos to enquire if they would opt for a four-year moratorium on spectrum payment and AGR payment and has put in a deadline to revert by October 29.

The ministry has also informed telcos that they can choose to convert their principal statutory dues during the deferred payment to equity when their moratorium period ends, to which they must respond in 3 months.

Vi became the first telecom company to respond to the telecom ministry’s relief program on October 20.

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  • Gaurav Tomer @Gaurav Tomer
    can anyone tell what will be the effect of this on its stock price
    Like 0
    • Aakib Khan @Aakib Khan
      Im also holding 12 Ce 😂
      Like 0
    • Sanmati Mehetre @Sanmati Mehetre
      full bullish
      Like 0
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