Report Wire - India concludes 5G spectrum public sale; Reliance Jio largest bidder

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India concludes 5G spectrum public sale; Reliance Jio largest bidder

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Department of Telecommunications, Business news, Indian express business news, Indian express, Indian express news, Current Affairs

India’s biggest-ever public sale of telecom spectrum acquired bids price Rs 1.5 lakh crore, with Mukesh Ambani’s Reliance Jio taking over a significant chunk price Rs 88,078 crore.

Gautam Adani’s group paid Rs 212 crore for 400 MHz, or lower than one per cent of all spectrum offered, in a band that’s not used for providing public telephony companies, as reported by PTI.

Telecom tycoon Sunil Bharti Mittal’s Bharti Airtel made a profitable bid of Rs 43,084 crore, whereas Vodafone Idea Ltd purchased spectrum for Rs 18,799 crore.

Telecom Minister Ashwini Vaishnaw stated of the 72,098 MHz of spectrum provided throughout 10 bands, 51,236 MHz, or 71 per cent, was offered.

In all, bids price Rs 1,50,173 crore had been acquired, he stated, including the federal government will within the first yr get Rs 13,365 crore.

Barring the 1800 MHz band, for which Jio and Airtel engaged in fierce bidding, spectrum in all bands was offered at reserve (base) worth, he stated.

with PTI inputs