NEW DELHI: India’s biggest ever auction of telecom spectrum received a record Rs 1.5 lakh crore of bids, with Mukesh Ambani’s Jio cornering nearly half of all the airwaves sold with a Rs 88,078 crore bid.
Richest Indian Gautam Adani’s group, whose entry in the auction was billed by some as another flashpoint in the rivalry with Ambani, paid Rs 212 crore for 400 MHz, or less than 1 per cent of all spectrum sold, in a band that is not used for offering public telephony services.
Telecom tycoon Sunil Bharti Mittal’s Bharti Airtel made a successful bid of Rs 43,084 crore, while Vodafone Idea Ltd bought spectrum for Rs 18,799 crore.
Telecom Minister Ashwini Vaishnaw said of the 72,098 MHz of spectrum offered across 10 bands, 51,236 MHz, or 71 per cent, was sold.
The auctions and spectrum top-up by companies will pave the way for better quality of services for consumers across the country, he added. The 5G services will be launched by October.
In all, bids worth Rs 1,50,173 crore were received, he said, adding the government will in the first year get Rs 13,365 crore.
This story is from the August 02, 2022 edition of Millennium Post Delhi.
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This story is from the August 02, 2022 edition of Millennium Post Delhi.
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