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Billionaire Mukesh Ambani’s Reliance Jio is top bidder with ₹ 88,078 crore for 5G spectrum

By Ruchi Upadhyay 
Updated Date

New Delhi: The process of 5G spectrum auction is over and Mukesh Ambani’s Reliance Jio has bid for 5G spectrum for a total of Rs 88,078 crore. Bharti Airtel has bid for Rs 43,084 crore, Vodafone Idea Rs 18,799 crore and Adani Group has bid for spectrum worth only Rs 212 crore. Telecom Minister Ashwani Vaishnav has given this information.

Also Read :- 4-Way race for $14 Billion 5G Spectrum starts today; Richest tycoon to participate in bidding

A total of four telcos have bid for spectrum worth Rs 1,50,173 crore in the seven-day 5G spectrum auction. In which the share of Reliance Jio alone is close to 59 percent. Reliance Jio has bid for 5G spectrum worth Rs 88,078 crore. Reliance Jio has been the top bidder in all 22 circles for the 700 MHz spectrum. Jio has acquired a total of 24,740 MHz spectrum. Bharti Airtel has bid for Rs 43,084 crore for 19,867 MHz spectrum.

Vodafone Idea has bid for 5G spectrum worth Rs 18,799 crore. Adani Data Networks of the Adani Group has bid for Rs 212 crore for 400 MHz of 5G spectrum.

The Telecom Minister said that out of the 5G spectrum offered by the government, 71 percent of the spectrum has been sold. The government had placed 72,098 MHz spectrum on the block, out of which 51,236 MHz spectrum has been sold and a total bid of Rs 1,50,173 crore has been placed. He said that by August 10, 2022 the spectrum allocation would be completed. And with the amount of spectrum purchased, 5G mobile service can be launched across the country.

Telecom Minister Ashwani Vaishnav said that the successful auction of 5G spectrum is a good sign for the country’s telecom sector. Let us tell you that Reliance Jio, Bharti Airtel, Vodafone Idea and Adani Data Networks, which is entering the telecom sector for the first time, have participated in the auction of 5G spectrum.

Also Read :- Bharti Airtel prepays ₹8,815 cr to clear deferred liabilities for 2015 spectrum

It is believed that once the 5G spectrum allocation to the telecom companies, 5G mobile service will be started in many big cities of the country in October 2022. According to an estimate, the speed of 5G is 10 times more than 4G. After the start of 5G service, a new era of automation will start.

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