Bharti Airtel's AGR Dues and Equity Conversion Scrutiny

Bharti Airtel's request to convert its Rs 41,000-crore adjusted gross revenue (AGR) dues into equity is currently under review by the Department of Telecom. The company's application follows the government's relief given to Vodafone Idea, and the process requires evaluation before a decision is made.

The telecom giant Bharti Airtel is seeking to convert its adjusted gross revenue (AGR) dues amounting to approximately Rs 41,000 crore into equity, as confirmed by an official source. This move follows a similar relief measure extended to Vodafone Idea by the Indian government.

However, the conversion is not automatic and will undergo thorough scrutiny by the Department of Telecom (DoT). "The application does not mean that it will be processed automatically. It needs to be evaluated and scrutinised before any final decision is made," stated the source.

The government recently boosted its shareholding in Vodafone Idea, converting Rs 36,950 crore of dues into equity and increasing its stake to 48.99%. Bharti Airtel, having cleared prior spectrum dues, aims to convert its auction dues from 2021, 2022, and 2024 under the new telecom reforms policy.

(With inputs from agencies.)