Bharti Airtel (Airtel), a leading private sector telecom company, on August 13 announced the closure of its agreement with Reliance Jio Infocomm (Jio) to transfer the 'Right to Use' of Airtel's 800 MHz spectrum in three circles to Jio.

Airtel has received Rs. 10,048 million (net of tax) from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs. 4,693 million relating to the spectrum.

Shares of the company gained Rs 13.80, or 2.21%, to settle  at  Rs 637.05  The total volume of shares traded  was 1,077,350 at  the BSE (Friday). The scrip touched an intraday high of Rs 638.60 and low of Rs 618.15.