Introduction:
Leading telecommunications service provider has cleared Rs. 3,626 crores in spectrum liabilities to the Department of Telecom, eliminating all dues with interest rates above 8.65%. This move is part of a larger strategy to reduce its financial burden.
Share price movement of Bharti Airtel:
On December 20, 2024, Bharti Airtel Ltd. opened at ₹1,617.15, up 1.09% from its previous close of ₹1,599.65. The stock reached a high of ₹1,621.60 (1.37%) and a low of ₹1,599.00. By 12:37 PM, it traded at ₹1,602.00, a 0.15% increase, with a market cap of ₹9,12,312.21 crore.
Bharti Airtel Prepaids Rs. 28,320 Crores to Clear Spectrum Liabilities:
Bharti Airtel announced that it has prepaid Rs. 3,626 crores to the Department of Telecom, clearing all liabilities related to the spectrum acquired in 2016. This repayment eliminates dues with interest rates higher than 8.65%.
This move is part of Airtel’s ongoing efforts to manage its debt. The company has now fully prepaid its spectrum liabilities, amounting to a total of Rs 28,320 crores this calendar year, demonstrating its commitment to reducing financial burden.
By prepaying its spectrum dues, Airtel strengthens its financial position and enhances investor confidence. The repayment is expected to reduce future interest outflows, positively impacting its bottom line and overall debt profile moving forward.
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Recent news on Bharti Airtel:
As of December 04, 2024, telecom player Bharti Airtel has awarded a multi-billion extension deal to Ericsson. The deal involves deploying centralized RAN and Open RAN-ready solutions, enhancing 4G and 5G coverage, capacity, and customer experience.
Stock performance of Bharti Airtel for Period of 1 week, 6 months and 1 year:
The company has experienced a -4.84% return over the past week but shows a strong performance with a 13.0% return over six months and an impressive 63.6% return over the last year, reflecting substantial growth.
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Shareholding pattern of Bharti Airtel:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 53.10% | 53.20% | 53.50% |
| FII | 25.10% | 24.60% | 24.40% |
| DII | 18.80% | 19.30% | 19.40% |
| Public | 2.90% | 2.90% | 2.80% |
| Others | 0.10% | 0.10% | 0.00% |
About Bharti Airtel:
Bharti Airtel Limited (NSE: BHARTIARTL) is a global communications provider with over 550 million customers across India, Africa, Bangladesh, and Sri Lanka. It offers 4G/5G broadband, digital services, and enterprise solutions, ranking among the top mobile operators worldwide.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
