Bharti Airtel zooms on acquiring 355.45 MHz spectrum for Rs 18,699 crore
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Bharti Airtel is currently trading at Rs. 540.40, up by 8.10 points or 1.52% from its previous closing of Rs. 532.30 on the BSE.
The scrip opened at Rs. 542.95 and has touched a high and low of Rs. 543.95 and Rs. 529.05 respectively. So far 1388185 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 623.00 on 04-Feb-2021 and a 52 week low of Rs. 381.05 on 19-Mar-2020.
Last one week high and low of the scrip stood at Rs. 585.80 and Rs. 521.10 respectively. The current market cap of the company is Rs. 292008.71 crore.
The promoters holding in the company stood at 56.23%, while Institutions and Non-Institutions held 39.53% and 4.24% respectively.
Bharti Airtel (Airtel) has acquired 355.45 MHz spectrum across Sub GHz, mid band and 2300 MHz bands for a total consideration of Rs 18,699 crore in the latest spectrum auction conducted by the Department of Telecom, Government of India. This gives Airtel the most formidable spectrum holdings in the country.
Airtel has now secured pan India foot print of Sub GHz spectrum that will help improve its deep indoor and in building coverage in every urban town. In addition, this precious spectrum will also help improve its coverage in villages by offering the superior Airtel experience to an additional 90 million customers in India. Through this auction, Airtel has also decisively strengthened its mid band and capacity spectrum holdings that will help it provide an exceptional customer experience at marginal capex. All of the spectrum will enable Airtel to deliver 5G services in future.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
