Reliance Jio today said it has prepaid its entire deferred liability worth Rs 30,791 crore (including accrued interest) to DoT.
The company had acquired 585.3 MHz spectrum in the said auctions/trading.
Department of Telecom (DoT) in December had provided telecom players the flexibility to prepay deferred spectrum liabilities. With this payout, Reliance Jio has now prepaid the entire deferred liabilities for spectrum acquired in 2014-2015 as through trading.
The telco made first tranche of spectrum payments in October 2021, for airwaves bought in 2016.
These liabilities were due in annual instalments from FY 2022-23 to 2034-35 and carried interest rate between 9.30 per cent to 10 per cent with an average residual period of more than 7 years.
The company estimates that the above prepayments will result in interest cost savings of around Rs. 1,200 crores annually, at the current interest rates.
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