71 per cent of 5G spectrum sold, auction grosses over Rs 1.5 lakh crore
Reliance Jio secured 40% of 700 MHz spectrum auctioned
Reliance Jio secured 40% of 700 MHz spectrum auctioned
Reliance Jio secured 40% of 700 MHz spectrum auctioned
Reliance Jio secured 40% of 700 MHz spectrum auctioned
The 5G spectrum auction has earned the Centre Rs 1,50,173 Crore as 71 per cent of spectrum placed for bidding got sold, a release from the Ministry of Communications said.
In a release, the Ministry said that 72,098 MHz spectrum was put to auction of which 51,236 MHz got sold. The total bid amount of Rs 1,50,173 Crore comprises the bids of Rs 212 Crore by Adani Data Networks, Rs 43,048 Crore by Bharti Airtel Ltd, Rs 88,078 Crore by Reliance Jio Infocomm and Rs 18,799 Crore by Vodafone idea Limited. The annual installment to be paid by all the participants is Rs 13,365 Crore, the release said. The interest rate in computing annual installments is 7.2%, Ministry said.
According to the release, Adani Data Networks Ltd has obtained 400 MHz spectrum in mm wave band (26 GHz). Bharti Airtel Ltd has obtained 19,867.8 MHz in 900, 1800, 2100, 3300 MHz and 26 GHz bands. Reliance Jio Infocomm Ltd has obtained 24,740 MHz spectrum in 700, 800, 1800, 3300 MHz and 26 GHz, Vodafone Idea Ltd has obtained 6,228 MHz spectrum in 1800, 2100, 2500, 3300 MHz and 26 GHz.
Though 600 MHz band was placed for auction for the first time this year, there were no takers as the device ecosystem is still not developed, the Ministry said. Reliance Jio has obtained pan India 10 MHz spectrum.
The process of allocation of spectrum shall be completed within the timeframe and 5G services are likely to be rolled out by October, the Ministry said.