Bharti Airtel on Friday has said it has confirmed to the Department of Telecommunications (DoT) that it will not avail the option of conversion of the interest on deferred spectrum and adjusted gross revenue (AGR) dues into equity.
The company had AGR dues of Rs 58,254 crore, of which it had already paid Rs 18,004 crore. The four-year moratorium should save it around Rs 11,500 crore in annual cash flows.
“In furtherance to the earlier communication dated October 25, 2021 and in reference to the notification dated October 14, 2021 issued by the DoT to the company, we wish to inform you that the company has confirmed to DoT that it will not avail the option of conversion of the interest on deferred spectrum and AGR dues into equity,” Airtel said in a communication to the stock exchanges.
