In a seven-day auction that ended on Monday, a record amount of 5G telecom spectrum—over Rs 1.5 lakh crore—was sold. Mukesh Ambani’s Jio emerged as the highest bidder, solidifying its position as the market leader.
In response to becoming the top bidder, Akash Ambani, Chairman of Reliance Jio Infocomm, stated, “We have always believed that India will become a leading economic power in the world by adopting the power of breakthrough technologies. This was the vision and conviction that gave birth to Jio. The speed, scale and societal impact of Jio’s 4G rollout are unmatched anywhere in the world. Now, with a bigger ambition and stronger resolve, Jio is set to lead India’s march into the 5G era.”
Reliance Jio Infocomm also stated that the combination of Jio’s Atmanirbhar technical know-how, enormous infrastructure, and collaborations with large international technology companies will hasten India’s conversion to a digital society.
Bharti Airtel, owned by Sunil Mittal, placed second with an offer of Rs 43,084 crore for 19,867 MHz of spectrum across multiple bands.
In the 26 GHz band, Adani Group paid Rs 212 for 400 MHz of spectrum, and Vodafone Idea paid Rs 18,784 crore for 2,668 MHz, announced Telecom Minister Ashwini Vasihnaw.
Viashnaw added that the most recent auction saw bids totalling Rs 1,50,173 crore for 71% of the total 5G spectrum offered.
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.
Union Minister Ashwini Vaishnaw added, “The auction is over, and till August 12 all necessary formalities—including approving, assigning, and collecting deposits—will be finished.” It appears that by October, 5G could be introduced in the nation.