5G Auction: Reliance Jio Emerges As Top Bidder; Check Details
New Delhi: The 5G spectrum auction ended today with Mukesh Ambani’s Reliance Jio emerging as the top bidder.
Reliance Jio’s bid was worth Rs 88,078 crore, while Adani group’s bid was at Rs 212 crore, PTI quoted Union minister Ashwini Vaishnaw as saying.
Total bids amounted to more than Rs 1.50 lakh crore, over 40 rounds. Of the 72,098 MHz of spectrum offered across 10 bands, 71% (51,236 MHz) was sold, informed Vaishnaw.
The minister said 5G services could be launched in the country by October.
He also informed that the government will receive Rs 13,365 crore payment for the spectrum in the first year.
Key developments in 5G spectrum auction:
* Jio acquired spectrum across several bands, including 700 MHz band which provides 6-10 km of signal range.
* Adani Group acquired spectrum in 26GHz band, which is not for public networks.
* Sunil Bharti Mittal’s Bharti Airtel bought 19,867 MHz airwave across different bands
* Vodafone Idea Ltd bought spectrum for Rs 18,784 crore.