Reliance Jio’s highest bid of Rs 88,078 crore in 5G auction

Reliance Jio on Monday emerged as the largest bidder in the auction of 5G spectrum in the country. The company bagged nearly half of the total spectrum sold in the auction with a bid of Rs 88,078 crore. According to Telecom Minister Ashwini Vaishnav, the Advani group has bought 400 MHz spectrum for Rs 212 […]
 


Reliance Jio’s highest bid of Rs 88,078 crore in 5G auction

Reliance Jio on Monday emerged as the largest bidder in the auction of 5G spectrum in the country. The company bagged nearly half of the total spectrum sold in the auction with a bid of Rs 88,078 crore.

According to Telecom Minister Ashwini Vaishnav, the Advani group has bought 400 MHz spectrum for Rs 212 crore. Adani Group has bought spectrum in the 26 MHz band. While it is not a public network, Jio has bought spectrum in various bands, including the 700 MHz band, which is considered good. It can provide 6-10 km ‘signal’ range and forms a good base for the fifth generation in all 22 circles of the country.

Reliance Jio’s highest bid of Rs 88,078 crore in 5G auction

If the 700 MHz band is used then only one tower can cover a substantial area. Telecom giant Sunil Mittal’s Bharti Airtel has bought 19,867 MHz spectrum for Rs 43,084 crore. Vodafone Idea has bought spectrum worth Rs 18,784 crore.

 

Union Minister Ashwini Vaishnav said that a total of Rs 1,50,173 crore bids have been received. The government has managed to sell 51,236 MHz or 71 per cent of the spectrum in 10 bands out of 72,098 MHz. He said that the government will get Rs 13,365 crore as spectrum in the first year. The minister said that 5G services can be started by October.