RJIL pays Rs 30791 crore for all spectrum acquired before Mar 2021
New Delhi Jan 19 PTITelecomReliance Jio on Wednesday said it haspaid Rs 30791 crore including accrued interest to the Department of Telecom to clear the entire spectrum payments liabilities that the company acquired before March 2021 auctions The payments include the liabilitiespertaining to the spectrum acquired in auctions of year 2014 2015 2016 and the spectrum acquired in the year 2021 through trading of right touse with Bharti Airtel Limited the company said Reliance Jio Infocomm RJIL haspaid Rs 30791 crore including accrued interest to the Department of Telecom towardsprepayment of the entire deferred liabilities pertaining to spectrum acquired in auctions ofyear 2014 2015 2016 and the spectrum acquired in year 2021 through trading of right to use with Bharti Airtel the company said in a statementThe company had acquired 5853 MHz spectrum through these auctions and tradingThe company estimates that the above prepayments will result in interest cost savings ofaround Rs 1200 crore annually at the current interest rates the statement saidReliance Jio has cleared all dues even after government has given options to telecom operator of availing four years moratorium on all spectrum related payments RJIL had executed the first tranche of prepayment on the anniversary date in the monthof October 2021 pertaining to spectrum acquired in auction in the year 2016 Subsequentto Department of Telecoms decision in the month of December 2021 providing the telcosthe flexibility to prepay their deferred spectrum liabilities on any date RJIL has nowprepaid in the month of January 2022 the entire deferred liabilities acquired in auction inthe year 2014 and 2015 as well as the spectrum acquired through trading These liabilities were due in annual instalments from financial year 2022-23 to 2034-2035 andcarried interest rate between 930 to 10 per cent per annum with an average residual period of more than seven years Bharti Airtel last month paid Rs 15519 crore to the Department of Telecom towards prepayment of the entire deferred liabilities pertaining to spectrum acquired in auction of year 2014 PTI PRS SRY
New Delhi Jan 19 PTITelecomReliance Jio on Wednesday said it haspaid Rs 30791 crore including accrued interest to the Department of Telecom to clear the entire spectrum payments liabilities that the company acquired before March 2021 auctions The payments include the liabilitiespertaining to the spectrum acquired in auctions of year 2014 2015 2016 and the spectrum acquired in the year 2021 through trading of right touse with Bharti Airtel Limited the company said Reliance Jio Infocomm RJIL haspaid Rs 30791 crore including accrued interest to the Department of Telecom towardsprepayment of the entire deferred liabilities pertaining to spectrum acquired in auctions ofyear 2014 2015 2016 and the spectrum acquired in year 2021 through trading of right to use with Bharti Airtel the company said in a statementThe company had acquired 5853 MHz spectrum through these auctions and tradingThe company estimates that the above prepayments will result in interest cost savings ofaround Rs 1200 crore annually at the current interest rates the statement saidReliance Jio has cleared all dues even after government has given options to telecom operator of availing four years moratorium on all spectrum related payments RJIL had executed the first tranche of prepayment on the anniversary date in the monthof October 2021 pertaining to spectrum acquired in auction in the year 2016 Subsequentto Department of Telecoms decision in the month of December 2021 providing the telcosthe flexibility to prepay their deferred spectrum liabilities on any date RJIL has nowprepaid in the month of January 2022 the entire deferred liabilities acquired in auction inthe year 2014 and 2015 as well as the spectrum acquired through trading These liabilities were due in annual instalments from financial year 2022-23 to 2034-2035 andcarried interest rate between 930 to 10 per cent per annum with an average residual period of more than seven years Bharti Airtel last month paid Rs 15519 crore to the Department of Telecom towards prepayment of the entire deferred liabilities pertaining to spectrum acquired in auction of year 2014 PTI PRS SRY
