Mukesh Ambani’s Reliance firm to enter Rs 963170000000 auction, aims to buy…

Mukesh Ambani’s Reliance Jio is currently the largest telecom operator in India and it has witnessed exponential growth in the past couple of years. With a massive chunk of the 5G market in India, the telecom company owned by India’s richest man is now planning to get more 5G spectrum in the latest Rs 96317 crore auction by the Department of Telecom (DoT) that is reportedly scheduled to begin from June 6.

The government is auctioning eight spectrum bands - 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz bands for mobile phone services at a base price of around Rs 96317 crore.

To recall, Reliance Jio acquired 5G spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz and 26GHz bands during the Department of Telecom (DoT) 5G spectrum auction in 2022. Jio acquired a unique combination of low-band, mid-band and mmWave spectrum, which coupled with the company's deep fibre network and indigenous technology platforms. Total cost of acquiring the right to use the technology agnostic spectrum for a period of 20 years is Rs 88,078 crore.

After the latest auction, the spectrum will be assigned for 20 years and successful bidders will be allowed to make payments in 20 equal annual installments. The DoT has provided an option to surrender the spectrum acquired through the upcoming auction after a minimum period of 10 years.

The DoT will publish ownership details of the applicants on May 10. The last date for withdrawal of applications is May 17, and the final list of bidders is scheduled to be declared on May 20. 

(with inputs from PTI)