In the biggest ever auction in India of Telecom Spectrum which received 1.5 lakh crore rupees in bid, Mukesh Ambani’s, Jio got nearly half of all the airwaves sold for rupees 88,078 crores.
Akash Ambani, Chairman of Reliance Jio Infocomm, said that their company is all set to roll out 5G spectrum in the shortest period of time. Jio’s 5G solution is made in India and will roll out across India in the “Azadi Ka Mahotsav.”
It is backed by the presence of nationwide fibre presence, an all-IP network with no legacy infrastructure and strong global partnerships across the technology ecosystem. This will make India a global leader in digital connectivity and solutions.
Mr Akash Ambani further said that Jio wants to offer world-class, affordable 5G and 5G-enabled services in India. Jio wants to speed up India’s digital revolution by providing services, platforms and solutions, especially in sectors like education, healthcare, agriculture, manufacturing and e-governance.
This bid will enable Jio to build the world’s most advanced 5G network which will hasten India’s AT-driven march towards becoming a USD 5 trillion plus economy.
After setting multiple records during the rollout of the largest 4G network in the shortest time, Jio plans to raise the bar further with 5G services.
In this bid, Jio has acquired the right to use spectrum in the 700MHz, 800 MHz, 1800 Mhz, 3300 Mhz and 2h GHz bands. Jio will become the only company to provide faster speeds, lower latency and massive connectivity using these spectrums.
Jio has brought spectrum worth rupees 39,270 crores in the 700MHz bands and radiowaves worth rupees 1050 crores for spectrum in 800 MHz band. In addition, Jio has paid 33,740 crore rupees for radiowaves in 3300 MHz and 6990 crore rupees for 26 GHz band. Rupees 7027 crores has been paid for spectrum in 180 MHz bands. In total, the spectrum amounts to 7877 crore rupees.
With this bid, Jio’s spectrum footfall in India is the highest at 26,277 MHz.
In the bid, of the 72,098 MHz spectrum offered, 71% was sold according to the Telecom Minister, Ashwini Vaishnaw.
Ambani’s rival Gautam Adani’s group paid 212 crore rupees for 400 MHz. Sunil Bharti Mittal’s Bhart Airtel made a successful bid of 43,084 crore rupees and Vodafone Idea Ltd. Bought spectrum for 18,799 crore rupees.
Of the 15,0173 crore rupees worth bids received, the government will get 13,365 crore rupees in the first year.