AGR dues swap proposal exploratory: Airtel

BHARTI AIRTEL'S VICE chairman and managing director, Gopal Vittal, said on Wednesday that the company's recent proposal to convert its adjusted gross revenue (AGR) dues into government equity was only exploratory in nature.

- URVI MALVANIA

Speaking during an earnings call following the company's March-quarter results, Vittal said Airtel approached the government merely to seek clarification on whether such a conversion option existed, similar to the relief extended to rival Vodafone Idea.

"We just wanted a non-discriminatory level-playing field in terms of an option to convert," Vittal said. "Whether we will convert or not is a decision for the board to take... We wanted a clarification from the government whether we had the option or not," he said.

Airtel's request, submitted last month to the department of telecommunications, pertains to converting around ₹40,000 crore in AGR dues into equity. If accepted, the move would give the government a 3-4% stake in the company.