Adani spent Rs 212 crore for 5G spectrum, this is the next plan
The auction process of 5G spectrum has been completed. Through this, the government has raised a record amount of Rs 1.5 lakh crore. The auction began on July 26. Along with Mukesh Ambani’s Reliance, Bharti Airtel and Vodafone-Idea, the company of Asia’s richest man Gautam Adani also bid. Adani has spent Rs 212 crore for 5G spectrum.
Adani Group announced its plan
Adani Data Network Limited (ADNL) of the Adani Group has bought spectrum in the 26 GHz millimeter wave band for 20 years for Rs 212 crore in the 5G spectrum auction. Through this, they will work to strengthen their business and data center. Apart from this, there are plans to use it for super apps as well.
Super app will be used here
The Adani Group, led by Gautam Adani, the world’s fourth richest man, is launching its super app to support businesses ranging from power distribution to airports and gas retailing to ports.
Gained less than 1% share
By spending this amount in spectrum auction, ADNL got the right to use 400 MHz spectrum. According to PTI, the Adani Group bought less than one per cent of all spectrum sold in the auction.
Mukesh Ambani spent the most
Mukesh Ambani-led Reliance Jio Infocomm was the frontrunner in the race to buy 5G spectrum by spending Rs 88,078 crore. Bharti Airtel is on the second spot with Rs. 43,084 crore was spent, while third-ranked Vodafone Idea spent Rs. 18,799 crores were spent.