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Reliance Jio buys 55% spectrum for Rs 57,123 crore

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New Delhi. The first spectrum auction in five years in the country was concluded on Tuesday. Telecom Secretary Anshu Prakash informed that various telecom companies bought spectrum worth Rs 77,814.80 crore. Mukesh Ambani’s company Reliance Jio bought 55 percent of the spectrum in a two-day auction for Rs 57,123 crore. Reliance Jio has acquired the right to use spectrum in all 22 circles in the country, it has acquired a total of 488.35 MHz spectrum. Thus, it has 1,717 MHz spectrum (uplink and downlink).

Auction special-
– Out of the total radio waves (MHz) introduced in the auction, telecom companies bought much less spectrum.
-Spectrum has also been procured at the reserve price.
– No bids were made in 700 and 2500 MHz.
– The 700 MHz band had one-third of the spectrum in the auction. Even in the 2016 auction, this spectrum was not sold at all.

Government said better revenue
– 19,000 to 20,000 crores will be available in the current financial year.
– More than auction estimate amid Corona epidemic and pressure in telecom sector.

These options are also-
Option to pay successful bidders in advance and installments.

Other companies’ recent-
– Indian Airtel bought 355.45 MHz spectrum for Rs 18,699 crore.
Vodafone Idea bought 11.80 MHz spectrum for Rs 1,993.40 crore.

Required for 5G
We have broadened our spectrum. Will soon launch 5G service in the country.
– Mukesh Ambani, Chairman Reliance Industries

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