5G Spectrum Auction Ends; Reliance Jio Top Bidder With Rs 88,078 Crore

IT Minister also announced that till October 2022 India would be able to launch 5G in the nation. Scroll to know more

By Ashita Singh
Mon, 01 Aug 2022 07:12 PM IST
Minute Read
5G Spectrum Auction Ends; Reliance Jio Top Bidder With Rs 88,078 Crore

India's first-ever auction for 5G spectrum ended on August 1 with a total bid of Rs 1,50,173 crore. Mukesh Ambani-led Reliance Jio emerged the top bidder in India's 5G spectrum auction, acquiring 24,740 MHz spectrum worth Rs 88,078 crore, IT Minister Ashwini Vaishnaw announced on Monday.

"About 72,098 MHz of spectrum was offered for auction and out of that, 51,236 MHz has been sold," the minister said.

IT Minister also announced that by October 2022 India will be launching 5G... "Auction has been completed & in the next few days, till Aug 12, all formalities incl approving & allocating, taking upfront payments will be completed. It seems we would be able to launch 5g in the country by October," he said.

Meanwhile, Sunil Mittal's Bharti Airtel was the second-highest bidder with a 19,867 MHz spectrum in various bands worth Rs 43,084 crore, in the auction that spanned for seven days with 40 rounds.

Vodafone Idea, in third place, received 2,668 MHz worth Rs 18,784 crore while a unit of Adani Group acquired 400 MHz spectrum in 26 GHz band worth Rs 212 crore, according to the minister.

Reliance Jio took the more expensive 700MHz in all 22 circles. The band has a range from 5-10 km which gives good base coverage. Airtel acquired 19,867.8 MHz spectrum in 900 MHz, 1800 MHz, 2100MHz, 3300 MHz and 26 GHz frequency bands for Rs 43,084 crore.

"Jio gets ready to roll-out the World’s Most Advanced 5G Network across India and to make India the global leader in Digital Connectivity and Digital Solutions," the company said in a statement soon after the auction ended.

Airtel has secured 5G spectrum for 20 years in this auction. The company said, in a statement, that the acquisition of this vast amount of spectrum strapped onto an already industry-best existing pool of spectrum will mean that the company does not need to spend any material sum on the spectrum for many years to come.

"We are confident that we will be able to deliver the best 5G experience in India in terms of coverage, speeds and latency. This will allow us to change a lot of established paradigms for both our B2C and B2B customers," said Gopal Vittal, MD and CEO, of Bharti Airtel.

"The mobile handset industry is ready in advance with more than 125 5G models already in the market, Rs 15,000 benchmark is breached and Rs 10,000 is in sight," he added.

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