5G spectrum sale: Reliance Jio top bidder, Bharti Airtel second
Reliance Jio, owned by billionaire Mukesh Ambani, placed highest in the seven-day 5G spectrum sale, which finished on Monday. The airwaves were sold for a tentative sum of Rs 1,50,173 crore.
This amount is treble the price of the 3G auction in 2010 that brought in Rs 50,968.37 crore and double the amount of 4G airwaves at Rs 77,815 crore sold last year.
According to a report in news agency PTI, Reliance Jio was the highest bidder, followed by Bharti Airtel and Vodafone Idea. The most recent player in the telecom market is Adani Data Networks, founded by Gautam Adani.
5G spectrum sale
While Vodafone Idea participated in a small number of regions, Jio and Airtel are anticipated to have created a pan-Indian 5G spectrum sale footprint.
Once the data is collated, the specifics of the 5G spectrum sale will be completely understood.
In 10 bands, the government offered the spectrum for sale, but only one band got any interest. Reliance Jio purchased spectrum for Rs 57,122.65 crore in the two-day prior 2021 auction, Bharti Airtel offered roughly Rs 18,699 crore, while Vodafone Idea purchased spectrum worth Rs 1,993.40 crore. This year, radiowaves with a total frequency of 72 GHz—or gigahertz—that are valued at at least Rs 4.3 lakh crore were auctioned off.