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New Delhi, Feb 29 () Telecom operator Bharti Airtel on Saturday said that it has made additional payment of Rs 8,004 crore towards adjusted gross revenue dues to the Department of Telecom (DoT). The payment of Rs 8,004 crore is in addition to Rs 10,000 crore the company paid on February 17, 2020 in compliance to the Supreme Court judgement, it said in a regulatory filing. The company said it calculated the liabilities on self assessment basis till December 31, 2019 and the payment includes interest up to February 29, 2020. The company has carried out self assessment from FY 2006-07 up to December 31, 2019 and interest thereon up to February 29, 2020 in line with the Adjusted Gross Revenue (AGR) judgement, Bharti Airtel said. "Accordingly the company paid an additional amount of Rs 3,004 crore towards the full and final amounts due over and above ad-hoc amount of Rs 10,000 crore paid on February 17, 2020 on behalf of Bharti Group of companies," the filing said. The payment included liabilities on Bharti Airtel, Bharti Hexacom and Telenor India. "We have also deposited an additional amount of Rs 5,000 crore, as an ad-hoc payment (subject to the subsequent refund/adjustment to cover differences, if any arising from the reconciliation exercise with the DoT," Airtel said. According to DoT estimates, Airtel owed nearly Rs 35,586 crore, including licence fee, spectrum usage charges with interest on unpaid amount, penalty and interest on penalty till July 2019. "Based on the aforesaid payment we have now complied with AGR judgement and the directions in the order of the Hon'ble Supreme Court dated October 24, 2019," the company said. PRS DRRDRR

AGR dues: Bharti Airtel pays additional Rs 8,004 cr, claims compliance with SC judgement

<a href="http://www.businessinsider.in/searchresult.cms?query=Bharti+Airtel&amp;sortorder=effectivedate">Bharti Airtel</a> is in advanced talks with <a href="http://www.businessinsider.in/searchresult.cms?query=Aircel&amp;sortorder=effectivedate">Aircel</a> to acquire its <keyword id="938679" type="UNKNOWN" weightage="80" keywordseo="4G-airwaves">4G airwaves</keyword> in eight circles for a hefty Rs. 3500 Crores in a bandwidth trading deal. 
 Once Airtel buys <keyword id="6360249" type="COMPANY" weightage="100" keywordseo="Aircel">Aircel</keyword>'s spectrum, the telco would become a pan-India 4G operator, just like Ambani-owned Reliance Jio Infocomm. 
 
"<a href="http://www.businessinsider.in/searchresult.cms?query=Bharti+Airtel&amp;sortorder=effectivedate">Bharti Airtel</a> and its subsidiary, Bharti Hexacom have entered into a definitive agreements with <a href="http://www.businessinsider.in/searchresult.cms?query=Aircel&amp;sortorder=effectivedate">Aircel Ltd</a> and its subsidiaries Dishnet Wireless Ltd and <a href="http://www.businessinsider.in/searchresult.cms?query=Aircel&amp;sortorder=effectivedate">Aircel Cellular Ltd</a> to acquire rights to use 20 MHz of 2300 Band 4G spectrum for eight circles for an aggregate consideration of Rs 3500 crore," the company said in a statement. 
 
The eight circles are Tamil Nadu (including Chennai), Bihar, Jammu &amp; Kashmir, West Bengal, Assam, North East, Andhra Pradesh and Orissa. 
 
Aircel's <a href="http://www.businessinsider.in/searchresult.cms?query=4G+airwaves&amp;sortorder=effectivedate">4G airwaves</a> in the 2300 Mhz band are valid till September 20, 2030. 
 
Image credit: Indiatimes

Airtel
to buy Aircel's 4G airwaves in 8 circles for a whopping Rs 3,500 Crores

Think Initial Public Offers (IPOs) are a sure-shot, quickfire method to make a quick buck? If so, then investing in some of India's biggest IPOs to date would have created multiple millionaires. However, if the data is to be believed, 18 out of India's top 30 IPOs by way of size have failed to deliver on the returns front. Recent data from Capitalmind PMS suggests that of all the mega IPOs India has seen in the past 2 decades, only 12 IPOs i.e. stocks of 12 companies have delivered more returns that what you would have received, had you bought and held your investments in Nifty500(which invests in biggest 500 companies by market size). Infact, Paytm (54%), <keyword id="20024191" type="General" weightage="20" keywordseo="Reliance-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Power" meta.hostid="261" meta.entityid="Reliance Power">Reliance Power</keyword> (81%), General Insurance Corporation (2%) actually generated negative total returns to date. The only outliers in the list of top 10 IPOs were Zomato (listed in July 2021) and Coal India (listed in April, 2010), which managed to generate excess returns i.e. more than what was generated by Nifty500. While Zomato's total return to date, which is considered a comprehensive gauge of a stock's profitability, stands at 265%, Coal India total returns are a massive 443%. In these cases, had you simply bought and held the Nifty500 index for a similar duration, your returns would've been 73%, and 435% respectively. Also, 5 of the biggest IPOs India has ever seen (Bajaj Housing Finance, Bharti Hexacom, Brainbees, Ola Electric) have come in the last 2 years. In some cases, having stayed put in your index investments would have yielded you far better returns. Consider this, FSN E-Commerce, Nykaa's parent company, listed on the exchanges on November 2021. Its total returns till date have been 2%, while had you invested in Nifty500 index, your returns would've been 53%. Similarly, the total returns to date on Bandhan Bank's stock, which listed in March 2018, was a negative 43%. But, the index has delivered a whopping 163% returns during the same time. Hits and Misses <table class="redcator-table-advance"><tbody><tr><td>Company Name</td><td>Total Returns to Date (In %)</td><td>CNX (Nifty500) Returns (In %)</td></tr><tr><td>Reliance Power (Feb 2008)</td><td>-81</td><td>961</td></tr><tr><td>Zomato (July 2021)</td><td>265</td><td>73</td></tr><tr><td>Gland Pharma (November 2020)</td><td>14</td><td>124</td></tr><tr><td>NHPC (September 2009)</td><td class="se-table-selected-cell">389</td><td>961</td></tr><tr><td>Indian Railways Finance Corporation (January 2021)</td><td>582</td><td>109</td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: CapitalMind PMS <h2>Surge in IPOs? Not really </h2>It is impossible to overlook the sheer number of public offerings seen in the Indian markets over the past 2 years. Around 600 share sale offers have already hit the market since 2023. Out of these, 335 have come in this year, as of October 2024. While over Rs 50,000 crores have been raised by these share sales so far since 2023, only 22% of these funds raises have come from companies who are hitting the market for the first time i.e. bringing out their IPOs. The rest have come from already listed companies seeking to raise more funds. The biggest IPO that India has seen to date, that of <keyword id="19906087" type="General" weightage="20" keywordseo="Hyundai" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai" meta.hostid="261" meta.entityid="Hyundai">Hyundai</keyword> Motor India, closes for subscription today. With an offer size of Rs 27,870.16 crore, it is 35% bigger than the previous biggest IPO in the country(LIC in May 2022). As of 12:30 pm today, Hyundai's offer had been 87% subscribed, with significant interest from QIBs and employees. At 0.43x, participation of retail investors remained largely subdued. Notably, an IPO is considered cancelled and withdrawn, if it fails to meet the 90% subscription threshold.

Do large IPOs guarantee large returns? Data suggests that 18 of India's biggest 30 IPOs did not generate solid returns

New Delhi, Feb 17 () Vodafone Idea and Tata Group have made part payment of about Rs 2,500 crore and over Rs 2,190 crore, respectively, to the telecom department towards statutory dues, a government official said on Monday.The official source privy to the development said that while VIL has made payment of Rs 2,500 crore, Tata Group has paid over Rs 2,190 crore.With the government coming down heavily on telcos after the Supreme Court's rap, Bharti Airtel on Monday made payment of Rs 10,000 crore to the Department of Telecommunications towards statutory dues.The company said it will make payment on balance amount after self-assessment exercise."The...amount of Rs 10,000 crore has been paid on behalf of Bharti Airtel, Bharti Hexacom, and Telenor," the Sunil Mittal led company said in a letter to the DoT earlier today. MBI BAL

Tata Group, Voda Idea make part payment towards statutory dues: DoT sources

New Delhi, Feb 17 () After Supreme Court rap and the government's stringent deadline, Bharti Airtel on Monday said it has paid Rs 10,000 crore to the telecom department towards statutory dues.The company said it will make payment of the balance amount after self assessment exercise."The...total amount of Rs 10,000 crore has been paid on behalf of Bharti Airtel, Bharti Hexacom, and Telenor."We are in the process of completing the self assessment exercise expeditiously and will duly make the balance payment upon completion of the same, before the next date of hearing in the SC," Bharti Airtel said.The company said it will also submit supporting details at the time of making balance payment. The telecom department on February 14 began issuing orders asking firms such as Bharti Airtel and Vodafone Idea to clear past dues immediately.The DoT, which faced the ire of the Supreme Court for putting on hold recovery of dues from telecom companies, had started issuing circle or zone-wise demand notices to the firms.Airtel had previously responded to DoT order by offering to pay Rs 10,000 crore by February 20 and the remaining before March 17. Airtel owes nearly Rs 35,586 crore, including licence fee and spectrum usage charge, to the government. MBI BALBAL

Airtel pays Rs 10,000 crore to govt towards AGR dues

(Eds: Adding details) New Delhi, Feb 17 () With the government coming down heavily on telcos after the Supreme Court's rap, Bharti Airtel on Monday said it has paid Rs 10,000 crore to the telecom department towards statutory dues.The company said it will make payment of balance amount after self-assessment exercise."The...amount of Rs 10,000 crore has been paid on behalf of Bharti Airtel, Bharti Hexacom, and Telenor," the Sunil Mittal-led company said in a statement.As much as Rs 9,500 crore has been paid on behalf of Bharti Airtel (including Telenor India which merged with the company), and another Rs 500 crore for Bharti Hexacom.As per the government's assessment, Airtel owes nearly Rs 35,586 crore in statutory dues, including licence fee and spectrum usage charge.After facing the ire of the Supreme Court for putting on hold recovery of dues from telecom companies, the telecom department on February 14 began issuing orders asking firms such as Bharti Airtel and Vodafone Idea to clear past dues immediately.The DoT swung into action and started issuing circle or zone-wise demand notices to firms, asking telcos cough up their liabilities immediately or face action in line with licence terms without any further notice.Some circles like UP (West) insisted that payment be made by Friday 11.59 PM, while others like UP (East) zone said its field office will remain open even on Saturday (February 15) to facilitate payment of liabilities by companies - underlining the telecom department's resolve to collect the unpaid dues at the earliest and indicating its unwillingness to yield further on timelines.On February 14 (Friday), Airtel had said it will pay Rs 10,000 crore to the Department of Telecommunications by February 20 and the remaining before March 17.But on Monday, the company rushed to make part payments and said, "we are in the process of completing the self assessment exercise expeditiously and will duly make the balance payment upon completion of the same, before the next date of hearing in (the) SC".The company said it will also submit supporting details at the time of making balance payment.In all, 15 entities owe the government Rs 1.47 lakh crore -- Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges.These dues arose after the Supreme Court, in October last year, had upheld the government's position on including revenue from non-core businesses in calculating the annual Adjusted Gross Revenue (AGR) of telecom companies, a share of which is paid as licence and spectrum fee to the exchequer.The apex court last week directed the managing directors and directors of telcos and other firms to explain why contempt action be not taken against them for non-compliance of its order to pay adjusted gross revenue (AGR) dues to the DoT.Taking strong note of the non-compliance of its order, a bench of Justice Arun Mishra, Justice S Abdul Nazeer and Justice M R Shah expressed anguish over the order passed by the DoT's desk officer, staying the effect of its verdict in the AGR matter.Vodafone Idea Ltd is confronted with the dues worth Rs 53,000 crore - its liabilities add up to Rs 24,729 crore of spectrum dues and another Rs 28,309 crore in licence fee.Vodafone Idea, in a regulatory filing on Saturday, had said it is assessing the amount that can be paid towards AGR dues, although it reiterated that continuation of business in India will depend on "a positive outcome" of its modification plea filed before the apex court."The company proposes to pay the amount so assessed in the next few days," VIL had said. MBI BALBAL

Airtel pays Rs 10,000 crore to govt towards statutory dues

New Delhi, Feb 17 () Shares of Vodafone Idea and Bharti Airtel closed marginally lower on Monday even as investors kept their fingers crossed amid uncertainty over statutory dues. State-owned MTNL was 8.14 per cent down over the previous close of Rs 9.35 on the BSE. Vodafone Idea's shares closed 0.58 per cent down to Rs 3.42 per unit. Intra-day, the stock gained as much as 18.89 per cent to hit upper circuit at Rs 3.78. The stock lost all its early gains after the Supreme Court rejected Vodafone Idea's proposal to pay Rs 2,500 crore by the end of Monday, and Rs 1,000 crore by Friday against adjusted gross revenue (AGR) dues. However, after market hours, Vodafone Idea and Tata group have made part payments of about Rs 2,500 crore and over Rs 2,190 crore, respectively, to the telecom department towards statutory dues, a government official said. Bharti Airtel's stock settled 0.02 lower at Rs 565. Reliance Industries, parent of Reliance Jio Infocomm, settled marginally down by 0.55 per cent to Rs 1,478.40 on the BSE. However, Tata Teleservices (Maharashtra) Ltd gained 9.45 per cent to close the day at Rs 3.59. It hit upper price band at Rs 3.60, up 9.75 per cent, during the day. Analysts said the SC ruling came as a negative for the telecom companies. "The telecom sector has probably seen its low and the tariff structure has been revised upwards by about 40 per cent which was a major positive. However, the payment of adjusted gross revenue (AGR) of telecom companies and no leeway provided in terms of payment is a major negative," Paras Bothra, president of equity research, Ashika Stock Broking, said. The Supreme Court on February 14 dismissed telecom companies' modification petition with respect to the AGR liabilities while asking them to pay before the next hearing on March 17. Bothra also said this will essentially force a duopoly kind of industry without the government intervention and is against consumer interests. Bharti Airtel, Vodafone Idea and Tata Teleservices are jointly liable to pay dues of over Rs 1 lakh crore but they have informed the Department of Telecommunications (DoT) of making only partial payment, according to their representatives. Bharti Airtel on Monday said it has paid Rs 10,000 crore to the DoT towards statutory dues. "The...amount of Rs 10,000 crore has been paid on behalf of Bharti Airtel, Bharti Hexacom, and Telenor," the Sunil Mittal-led company said in a letter to the DoT earlier on Monday. State-owned BSNL and MTNL have also not paid the dues. Reliance Jio on January 23 paid Rs 195 crore to the DoT to clear all AGR dues accounted till January 31, 2020. HRS

Telecom stocks end in red amid uncertainty over statutory dues

New Delhi, Dec 29 () Telecom operator Bharti Airtel on Sunday hiked its mandatory minimum recharge for pre-paid customers to Rs 45 from Rs 23.
"...it will be mandatory to recharge with a voucher of Rs 45 or above, every 28 days to avail services," the company said in a public notice.
The new minimum recharge plan will come into effect from Sunday. The announcement pertained to prepaid subscribers of Bharti Airtel and Bharti Hexacom in all service areas, it added.
"In case of non recharge with a voucher of Rs 45 or above at the end of tariff validity period, Airtel reserves the right to provide the plan benefits in a curtailed manner at its own discretion during the grace period of up to 15 days.
"In case of non recharge with voucher of Rs 45 of above, all services will be suspended post the grace period," the company said.
Amid a turbulence in the debt laden sector, Bharti Airtel chairman Sunil Bharti Mittal had recently said a combination of rock-bottom tariffs and high consumption is killing the telecom industry and sector regulator Trai needs to urgently intervene to strike a balance between the needs for protecting investments and consumer interest.
"We are unnecessarily killing this industry in a manner and way that is not conducive for our industry, and that's why we need Trai intervention," Mittal had said.
The comments of the Airtel chief had come just days after the Telecom Regulatory Authority of India (Trai) initiated talks to prescribe floor price for call and data, and also deferred by one year the scrapping of the charge paid by mobile phone users for calls made to rival networks.
The two moves came as a big boost to old operators like Airtel and Vodafone Idea that are staring at a liability of thousands of crores in unpaid past statutory dues following a Supreme Court ruling.
Through their association, the operators had been pitching to policy makers for fixing a floor rate for calls and data.
The telecom call and data rates are at present under forbearance or not regulated.
But, Trai has now released a consultation paper to fix minimum or floor rates for mobile phone calls and data -- a move that will effectively end the regime of free calling and dirt cheap data.
The outcome is likely to lead to further hike in mobile call and data cost as the industry wants average revenue per user to reach Rs 300 per month from about Rs 125 at present over a period of two years -- better revenue realisation per user will offer a much-needed breather to the stressed telecom industry where debt levels have soared to Rs 7.8 lakh crore.
Bharti Airtel had posted a staggering Rs 23,045 crore net loss for the second quarter ended September 30, due to provisioning of Rs 28,450 crore in the aftermath of the SC ruling on statutory dues.
According to a government data, statutory liabilities in the case of Bharti Airtel add up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904.01 crore is the SUC (spectrum usage charges) dues (excluding the dues of Telenor and Tata Teleservices). MBI BAL
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AGR dues: Bharti Airtel pays additional Rs 8,004 cr, claims compliance with SC judgement

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Airtel to buy Aircel's 4G airwaves in 8 circles for a whopping Rs 3,500 Crores

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Do large IPOs guarantee large returns? Data suggests that 18 of India's biggest 30 IPOs did not generate solid returns

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Tata Group, Voda Idea make part payment towards statutory dues: DoT sources

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Airtel pays Rs 10,000 crore to govt towards AGR dues

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Airtel pays Rs 10,000 crore to govt towards statutory dues

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Telecom stocks end in red amid uncertainty over statutory dues

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Airtel raises minimum recharge for pre paid users

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