Bharti Airtel’s stock rose 2% on Tuesday, March 2, after the telecom service provider revealed that it had purchased 355.45 MHz spectrum in the Sub GHz, mid-band, and 2300 MHz bands for a total of Rs 18,699 crores in the government’s latest spectrum auction. Airtel’s mid-band and power spectrum assets have been improved as a result of the auction, allowing it to provide a better customer experience at a lower marginal cost.
Airtel will be able to offer 5G networks in the future due to the full spectrum. Bharti Airtel started trading on the BSE on Tuesday at Rs 542.95, hitting an intraday high of Rs 543.95 and a low of Rs 529.05 so far.
Airtel has now secured a pan-India footprint of Sub GHz spectrum, according to a statement released by the company, which will further boost its deep indoor and in-building coverage across urban towns. Furthermore, the spectrum would boost coverage in villages by delivering a better experience to an additional 90 million customers across the country.
To start, we’d like to express our gratitude to the government for making enough spectrum available for auction. Airtel now has a large spectrum portfolio, allowing it to continue to offer India’s best mobile broadband experience. Bharti Airtel’s MD and CEO (India & South Asia), Gopal Vittal, said, “We are most excited to carry the power of Airtel services to an additional 90 million customers in India through the power of our Pan India Sub GHz footprint.”
Despite the vast amount of spectrum made available, the 700 MHz band bands did not receive any offers from operators, according to the group, because the high reserve prices made little economic sense for them. According to Airtel, the 700 MHz band, when paired with the 3.5 GHz band, has the ability to catapult the nation into the top tier of digitally-enabled countries.
Bharti Airtel’s stock was trading 1.25 percent higher at Rs 538.95 on the BSE at 2:46 p.m.