5G spectrum bid: Mukesh Ambani's Jio top bidder; Govt receives bids worth over ₹1.5 lakh cr. 5 points
Sunil Bharti Mittal's Bharti Airtel bought a 19,867 MHz airwave across different bands for ₹43,084 crore
PremiumUnion telecom Minister Ashwini Vaishnaw on Monday said that Indian telecoms bought a total of spectrum worth ₹1.5 lakh crore as its 5G spectrum auction concluded today. Mukesh Ambani's Reliance Jio Infocomm Limited emerged as the top bidder with a winning bid of ₹88,078 crore. Adani Group bid for spectrum worth ₹212 crore.
Jio's closest rival Bharti Airtel stood as the second-highest bidder for the 5G spectrum auction. According to Vaishnaw, Bharti Airtel bid for 5G spectrum worth ₹43,084 crore whereas Vodafone Idea bid for airwaves worth ₹18,784 crore.
“Auction has been completed and in the next few days, till August 12, all formalities incl approving and allocating, taking upfront payments will be completed. It seems we would be able to launch 5G in the country by October," the Union telecom Minister said in a statement. Vaishnaw said that the government expects 'good nationwide 5G coverage in the next 2-3 years'.
The government has sold 71% of the total spectrum, raising ₹1,50,173 crore.
India's 5G spectrum auction. 5 key points:
- India's biggest ever auction of airwaves ended on Monday, with spectrum worth ₹1,50,173 crore sold. Of the 72,098 MHz of spectrum offered across 10 bands, 51,236 MHz, or 71%, was sold.
- Ambani's Reliance Jio has stood 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.
- Adani group bought spectrum in the 26 GHz band, which is not for public networks.
- Sunil Bharti Mittal's Bharti Airtel bought a 19,867 MHz airwave across different bands for ₹43,084 crore.
- The central government aims to begin the rollout of 5G - which it says can provide data speeds about 10 times faster than 4G - by October this year. Globally, the next-generation network is seen as vital for emerging technologies like self-driving cars and artificial intelligence.
5G auction: Here's how much each company will have to pay
- Jio: ₹88,078 crore
- Bharti Airtel: ₹43,084 crore
- Vodafone Idea: ₹18,799 crore
- Adani Group: ₹212 crore
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