Thursday, February 29, 2024

Ambani’s Reliance Jio tops 5G Spectrum bid with Rs 88,078 crores

Billionaire Mukesh Ambani’s Reliance Jio on Monday emerged as the largest bidder for the 5G spectrum, acquiring close to half of all the airwaves sold in the latest auction for ₹ 88,078 crore.

According to Telecom Minister Ashwini Vaishnaw, the Adani group bought 400 MHz, or less than one per cent of all spectrum sold, for ₹ 212 crore.

While Adani group bought spectrum in the 26 GHz band, which is not for public networks, 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 fifth generation (5G) in all 22 circles in the country.

A single towner can cover more area if 700 Mhz is used.

Telecom tycoon Sunil Bharti Mittal’s Bharti Airtel bought a 19,867 MHz airwave across different bands for ₹ 43,084 crore.

Vodafone Idea Ltd bought spectrum for ₹ 18,784 crore.

In all, ₹ 150,173 crore of bids were received, Vaishnaw said.

Of the 72,098 MHz of spectrum offered across 10 bands, 51,236 MHz, or 71 per cent, was sold.

The government, he said, in the first year will get a ₹ 13,365 crore payment for the spectrum.

He also said the 5G services could be launched by October. 

Read More

Jaishankar urges Asian nations to engage with Russia

India’s minister of external affairs Dr. S. Jaishankar has suggested that countries in Asia and elsewhere should engage more with Russia as it seeks...
Support Us
Contribute to see NewsBred grow. And rejoice that your input has made it possible.