5G Spectrum Auction: Bidders Get More Time to Clear Dues

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5G spectrum auction for 2022 concluded on August 1. There was serious bidding, and the government generated a total of Rs 1,50,173 crore from the four bidders, including Reliance Jio, Vodafone Idea (Vi), Bharti Airtel, and Adani Data Networks Limited. The biggest bidder was, of course, Reliance Jio, followed by Airtel, Vi, and Adani. The bidders have been allocated the spectrum for 20 years. All the bidders are supposed to pay an advance, and then the remaining dues of the spectrum auction would have to be paid in 20 equal annual instalments.

The last date for the payment of the advance was August 16, 2022. But the DoT (Department of Telecommuncations) has extended the date by one day, saying that Monday is a bank holiday in Mumbai. Thus, the new last date for the payment of supposed dues is August 16, 2022.

In a notice released by DoT, it was mentioned that "In respect of Demand Note under reference, on account of 16.08.2022 being Bank Holiday in Mumbai and Maharashtra, the competent authority has decided to revise the due date of payment from 16.08.2022 to 17.08.2022."

How Much do Telcos Need to Pay

In case of opting for twenty equal annual instalments, Jio would have to pay Rs 7,864 crore, Airtel would have to pay Rs 3,848 crore, Vodafone Idea would have to pay Rs 1,679 crore, and Adani Data Networks would have to pay Rs 18.94 crore. Adani Group will have to pay such a less amount because it only bid for a total of Rs 212 crore during the spectrum auction.

Jio bid for the spectrum worth Rs 88,078 crore, while Airtel and Vi bid for Rs 43,084 and Rs 18,799 crore worth of spectrum, respectively. This was the biggest spectrum auction for the DoT in terms of revenues. The sector will definitely benefit from the arrival of 5G, which would also extend the benefits to other verticals such as manufacturing and more.

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Tanay is someone with whom you can chill and talk about technology and life. A fitness enthusiast and cricketer, he loves to read and write.

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