With the conclusion of the seven-day long 5G spectrum auction, Mukesh Ambani-led Reliance Jio has emerged as the highest bidder worth Rs 88,078 crore across several spectrum bands including the coveted 700 MHz band, according to a report by PTI.
With this development, Reliance Jio has consolidated its position in the domestic telecom sector. Notably, more than a quarter of bids came for 700 MHz—which has been touted to be the most effective 5G spectrum band.
Meanwhile, Sunil Mittal-led Bharti Airtel fetched the second spot in the bid worth Rs 43,084 crore across the 19,867 MHz airwaves.
Adani Group, which had been the latest entrant in the 5G spectrum auction, bought only 400 MHz band or less than one per cent of all spectrum sold worth Rs 212 crore. Gautam Adani is planning to use the 5G spectrum to set up a private telecom network.
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Apart from Reliance Jio, Airtel, and Adani Group, the beleaguered telecom company Vodafone-Idea bought spectrum worth Rs 18,784 crore.
The most-coveted 5G spectrum sale—which began on July 26 and concluded on July 1, fetched the Indian government a record Rs 1,50,173 crore in bids. Of the 72 GHz of radiowaves that was put for auction across 10 bands, 71 per cent have been sold.
The auction was held for the following categories of spectrum bands—low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz), mid (3300 MHz), and high (26 GHz). However, no bids were received by the government for 600 MHz, 800MHz, and 2,300 MHz bands.
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The 5G services are likely to get rolled out by October this year.
(With Inputs From PTI)
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