5g Spectrum Auction: Jio tops bidding with record of 1.5 lakh crore
By Lokmat English Desk | Published: August 1, 2022 05:07 PM2022-08-01T17:07:46+5:302022-08-01T17:07:46+5:30
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The biggest ever spectrum auction in India ended on Monday. The seven-day auction saw a record sale of a 5G telecom spectrum worth over Rs 1.5 lakh crore. In this auction, billionaire businessman Mukesh Ambani's company Jio has topped the chart.
Sources privy to the matter said that as per the provisional figures, a total of Rs 1,50,173 crore bids were placed. 5G spectrum capable of offering extremely high-speed mobile internet connectivity was auctioned for Rs 77,815 crore last year.
Reliance Jio made the highest bid for radio waves offering connectivity at speeds nearly 10 times faster than 4G. It was followed by Bharti Airtel and Vodafone Idea Limited. The Adani Group is said to have set up a private telecom network.
The government had offered spectrum in 10 bands, but no bids were received for spectrum in the 600 MHz, 800 MHz and 2300 MHz bands. About two-thirds of the bids were for the 5G band (3300 MHz and 26 GHz), while more than one-fourth were for the medium.
Bharti Airtel had bid for around Rs 18,699 crore and Vodafone Idea had bought spectrum for Rs 1,993.40 crore. A total of 72 GHz radio waves worth at least Rs 4.3 lakh crore were put up for bid this year.
