Bharti Airtel gains on prepaying Rs 8,024 crore to DoT towards part prepayment of deferred liabilities
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Bharti Airtel is currently trading at Rs. 891.50, up by 1.25 points or 0.14% from its previous closing of Rs. 890.25 on the BSE.
The scrip opened at Rs. 890.65 and has touched a high and low of Rs. 897.25 and Rs. 888.05 respectively. So far 1955116 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 901.55 on 27-Jul-2023 and a 52 week low of Rs. 677.85 on 01-Aug-2022.
Last one week high and low of the scrip stood at Rs. 901.55 and Rs. 877.05 respectively. The current market cap of the company is Rs. 534993.43 crore.
The promoters holding in the company stood at 54.97%, while Institutions and Non-Institutions held 41.14% and 3.88% respectively.
Bharti Airtel has prepaid Rs 8,024 crore to the Department of Telecom (DoT) (Government of India) towards part prepayment of deferred liabilities pertaining to spectrum acquired in auction of year 2015.
The said installments had an interest rate of 10% and have been prepaid by Airtel, leveraging much lower cost financing available to it. The company continues to enjoy access to a well-diversified sources of capital / financing, allowing it to have enhanced financial flexibility in its capital structure including optimized cost of financing using all opportunities for significant interest savings, like this prepayment.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
