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Reliance Jio is the highest bidder at the 5G auction, the Telecom Minister declares

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Reliance Jio is the highest bidder at the 5G auction, the Telecom Minister declares

Reliance Jio, owned by Mukesh Ambani, won the 5G spectrum auction with a price of 88,078 crore rupees, beating out the Adani Group’s bid of 212 crore, according to telecom minister Ashwini Vaishnaw, who was reported by PTI.

As the 5G spectrum auction ended today, Indian telecoms purchased a total of spectrum valued at 1.5 lakh crore, according to Union Telecom Minister Ashwini Vaishnaw on Monday.

The following are the top five developments since the 5G spectrum auction closed today: 1. Reliance Jio purchased spectrum in a number of bands, including the coveted 700 MHz band, which can offer 6–10 km of signal range and serves as a solid foundation for fifth generation (5G) in all 22 circles in the nation. When using 700 Mhz, a single tower may cover a larger area.

Adani Group bought the spectrum in the 26GHz band, which is not for public networks. Telecom tycoon Sunil Bharti Mittal’s Bharti Airtel bought a 19,867 MHz airwave across different bands for ₹43,084 crore.

Vodafone Idea Ltd bought spectrum for ₹18,784 crore. In all, ₹150,173 crore of bids were received, Vaishnaw said. .

The government, he said, in the first year will get a ₹13,365 crore payment for the spectrum. He also said the 5G services could be launched by October.(With PTI inputs).

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