Overview of the Transaction

Adani Data Networks Limited (ADNL) has successfully entered into a spectrum trading agreement with Bharti Airtel Limited and its subsidiary, Bharti Hexacom Limited. This agreement involves the transfer of 400 MHz in the 26 GHz band across six telecom circles in India.

Details of the Spectrum Transfer

The spectrum includes allocations as follows:

• Gujarat: 100 MHz
• Mumbai: 100 MHz
• Andhra Pradesh: 50 MHz
• Rajasthan: 50 MHz
• Karnataka: 50 MHz
• Tamil Nadu: 50 MHz

ADNL acquired these rights during India’s inaugural 5G spectrum auction in 2022.

Role of Cyril Amarchand Mangaldas

Cyril Amarchand Mangaldas served as the Indian legal advisor throughout this transaction. The key individuals involved included:

• Saurabh Sharma, Partner – Led the transaction
• Yashaanki Kora, Associate – Provided support
• Tanuj Agarwal, Associate – Assisted in execution
• Arun Prabhu, Partner (Head of Technology) – Offered strategic guidance
• Himanshi Mahajan, Associate – Contributed to advisory efforts
• Aviral Sahai, Partner – Guided on regulatory matters
• Palak Singh, Associate – Assisted with regulatory compliance

Next Steps and Conditions

The closing of the agreement is contingent upon the fulfillment of standard conditions and the necessary statutory approvals, particularly from the Department of Telecommunications.

This transaction was officially signed on April 22, 2025, marking a significant advancement in the telecommunications sector.