Jio buys most 4G spectrum as bids exceed govt expectations
Reliance Jio bought radio airwaves worth ₹57,122.65 crore in the first spectrum auction in more than four years
Spectrum in the 700MHz band went unsold because of the high base price, analysts said
The government wrapped up an auction for fourth-generation, or 4G, airwaves, generating ₹77,814.80 crore in proceeds, or about a fifth of the spectrum value put on sale. It, however, claimed the auction was a success as demand “far exceeded" its modest expectations.