InvestorQ : How much of spectrum did Reliance bid for in the recent 5G auctions?
Dawn Cherian made post

How much of spectrum did Reliance bid for in the recent 5G auctions?

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Mitali Bhutta answered.
2 weeks ago
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After several extensions, the 5G spectrum auctions finally closed on Monday with more than Rs1.50 trillion worth of bids received by the government of India in the spectrum auctions. Of course, Reliance Jio acquired spectrum aggregating Rs88,078 crore and ended up lapping more than 55-60% of the total spectrum made available. It was followed by Bharti and Vodafone Idea in that order. Adani Data Networks had much lower requirements as they were to use the spectrum only for their internal use.

This surfeit of high quality spectrm will empower Reliance Jio to build the most advanced 5G network in India. It will also facilidate provision of next generation digital solutions like AI, ML and IOT related serviecs. The spectrum bands across frequencies were acquired for a period of 20 years by Reliance Jio. Spectrum payments must be made over 20 equated annual instalments, with interest calculated at 7.2% per annum. Jio will make an annual payment of Rs7,877 crore for spectrum and literlaly provide 5G services across India.

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