Mukesh Ambani’s Reliance Jio has emerged as the largest bidder for the 5G spectrum, acquiring close to half of all the airwaves sold in the latest auction for Rs 88,078 crore. Jio acquired spectrum across several bands, including the coveted 700 MHz band that can provide 6-10 km of signal range and forms a good base for 5G in all 22 circles in the country.
Telecom Minister Ashwini Vaishnaw said that Indian telecoms bought a total of spectrum worth Rs 1.5 lakh crore as its 5G spectrum auction concluded today. Of the 72,098 MHz of spectrum offered across 10 bands, 51,236 MHz, or 71%, was sold.
Bharti Airtel stood as the second-highest bidder for the 5G spectrum auction, bidding worth Rs 43,084 crore, whereas Vodafone Idea Ltd bought spectrum for Rs 18,784 crore. The Adani group bought 400 MHz for Rs 212 crore.
The minister said, “Auction has been completed and in the next few days, till August 12, all formalities including approving and allocating, taking upfront payments will be completed. It seems we would be able to launch 5G in the country by October.”
Vaishnaw said that the government expects “good nationwide 5G coverage in the next 2-3 years.” He also added that the government will get a Rs 13,365 crore payment for the spectrum in the first year.
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