Bharti Airtel received Rs. 1,004.8 Cr from Jio based on the signed agreement

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New Delhi: On Friday, 13 August 2021, Bharti Airtel calls of the agreement with Reliance Jio Infocomm to transfer the ‘Right to Use’ of Airtel’s 800 Mhz spectrum in three circles to zero.

Additionally, Jio would assume the future liabilities of Rs. 469.3 crore based on spectrum.

The agreement by Airtel has announced the agreement with Reliance Jio Infocomm to transfer the ‘Right to Use’ of Airtel’s 800 MHz spectrum in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz), and Mumbai (2.50MHz) to Jio.

And for the proposed transfer Airtel has received an amount of Rs. 1,004.8 crore from Jio, stated Airtel.

Further, in the month of April, Gopal Vittal, MD&CEO (India & South Asia), Bharti Airtel, stated that the sales of 800 MHz blocks in these 3 circles have enabled them to unlock the value from the unutilized spectrum.

The shared of Bharti Airtel on the BSE were trading at Rs. 637.05, higher by Rs. 13. 80 or 2.21 percent from its previous close.