Airtel Acquires 97 MHz Spectrum to Bolster Mid-Band Holdings and Ensure Top-Tier Service

On June 26, 2024, Bharti Airtel, India’s leading telecommunications provider, announced its spectrum purchase in key regions.

The company has acquired 97 MHz spectrum, including renewing the expiring spectrum and adding a new spectrum to enhance its mid-band holdings in selected areas. This purchase ensures that Bharti Airtel continues to have the largest mid-band spectrum pool in the country. The company spent a total of ₹6,857 crore on this acquisition.

Specifically, Bharti Hexacom Ltd, a part of Airtel, acquired 15 MHz of this spectrum for ₹1,001 crore. This move aligns with Airtel’s strategy to build a large mid-band spectrum pool to offer seamless 4G and 5G services across India. Airtel has always been a leader in bringing innovative technologies to the country. This mid-band spectrum will allow customers to enjoy faster browsing speeds and better indoor coverage.

Gopal Vittal, MD and CEO of Bharti Airtel, said, “Airtel continues to judiciously acquire the right amount of spectrum to deliver the best possible experience to our customers. In this auction, we have bolstered our sub‐giga hertz and mid‐band holding, significantly improving our coverage, especially indoors.”

Recently, on June 19, 2024, under SEBI Listing Regulations, Airtel informed that its Special Committee approved acquiring up to 27 million equity shares in Indus Towers. As a result, Airtel has acquired approximately 26.95 million (1%) equity shares of Indus Towers on the market.

About Bharti Airtel

Based in India, Bharti Airtel is a global communications provider serving over 500 million customers in 17 countries across South Asia and Africa. It is one of the top 3 mobile operators worldwide, with networks covering over 2 billion people. Airtel’s offerings include Airtel Xstream Fiber with speeds up to 1 Gbps, high-speed 4G/5G mobile broadband, and a range of entertainment options like linear and on-demand TV, music, and video streaming services. Airtel offers secure connectivity, cloud and data centre services, cybersecurity, IoT, Ad Tech, and cloud-based communication solutions for businesses.

On June 27, 2024, the share price of Bharti Airtel opened at ₹1,464.00, making the day’s low at ₹1,440.05 as of 09:52 AM on NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.