Bharti Airtel, witnessed a rise in share price on Friday after it said that it has acquired 111.6 MHz of prime spectrum across 900 MHz, 1800 MHz and 2100 MHz bands for a total consideration of Rs 291.30 billion in the just concluded spectrum auction conducted by the Government of India. Of this, Rs 176.18 billion has been spent on the renewal of existing spectrum while the balance Rs 115.12 billion has been spent on procuring new spectrum.

The company's spectrum acquisition strategy is aimed at enhancing its leadership position in the fast growing data segment in the country. The auction results are subject to the outcome of the decision by the hon’ble Supreme Court.

Shares of the company are trading at Rs 403.40, up Rs 4.7, or 1.18% at the Bombay Stock Exchange (BSE) on Friday at 9:31 a.m.

The scrip has touched an intra-day high of Rs 404.25 and low of Rs 400.90. The total volume of shares traded at the BSE is 41,222.