Mumbai : Mukesh Ambani controlled Reliance Jio has emereged as the largest acquirer of 5G spctrum in the auction concluded today. Jio acquired spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz and 26GHz bands, said Telecom Minister Ashwini Vaishnav.
Among the three other bidders, Sunil Mittal controlled Bharti Airtel acquired 19,867 MHz (700, 800, 1800, 3300, 26GHz) for a payable amount of Rs 43,084 crore. Vodafone Idea acquired spectrum worth Rs 18,799 crore. Meanwhile, Adani Data Networks, an arm of the Adani Group and the latest entrant in the sector, has acquired 400 MHz for a payable amount of Rs 212 crore, he added.
Total cost of acquiring the right to use the above technology agnostic spectrum for a period of 20 years is Rs. 88,078 crore. As per terms of the spectrum auction, the spectrum payments have to be made over 20 equated annual instalments, with interest computed at 7.2% per annum.
“Jio’s 5G solution is made in India, by Indians and to suit the need of every Indian. Jio is fully ready for 5G rollout in the shortest period of time because of its nationwide fibre presence, all-IP network with no legacy infrastructure, indigenous 5G stack and strong global partnerships across the technology ecosystem” said jio.
“Jio has acquired a unique combination of low-band, mid-band and mmWave spectrum, which coupled with our deep fibre network and indigenous technology platforms, will enable us to provide 5G Everywhere and 5G For All (consumers and enterprises). 2. With its unmatched 700 MHz spectrum footprint, Jio will be the only operator providing pan-India True 5G services with faster speeds, lower latency and massive connectivity” it added.