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MEA news 2nd Aug 2022 1 ardorcomm 5G spectrum auction ends with bids reaching 1.5 trillion

5G spectrum auction ends with bids reaching 1.5 trillion

Reliance Jio, owned by billionaire Mukesh Ambani, became the highest bidder for 5G spectrum on Monday, paying 88,078 crores to buy over half of the airwaves offered in the most recent auction.

The Adani group paid 212 crores for 400 MHz, or less than 1% of all spectrum sold, according to Telecom Minister Ashwini Vaishnaw.

While Jio purchased spectrum across several bands, including the coveted 700 MHz band, which can provide 6-10 km of signal range and serves as a good foundation for fifth generation (5G) in all 22 circles in the country, Adani Group purchased spectrum in the 26 GHz band, which is not for public networks. If 700 Mhz is used, a single tower can cover a larger area.

Bharti Airtel, owned by telecom tycoon Sunil Bharti Mittal, paid 43,084 crores for a 19,867 MHz airwave that spans multiple bands.  For 18,784 crore, Vodafone Idea Ltd. purchased spectrum.

Vaishnaw reported that a total of 150,173 crore worth of bids were received. 51,236 MHz, or 71%, of the 72,098 MHz of spectrum offered over 10 bands, were sold. According to him, the government will receive a payment of 13,365 crore in the first year for the spectrum.

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