Telecom minister Ashwini Vaishnaw said that the 5G spectrum auction 2022 saw over 71% of the spectrum getting sold. This is a remarkable figure and mostly achieved because of the big contributions from Reliance Jio. Spectrum worth Rs 1,50,173 crore was sold during the auctions. A total of 51.236 GHz of the 72.098 GHz of available airwaves were chosen by the four bidders.
As per an ET Telecom report, Union telecom minister Ashwini Vaishnaw spoke to the media following the auction and said, "We understand that the spectrum purchased is good enough to cover all the circles in the country. In 2-3 years, very good coverage for 5G.”
Reliance Jio Led the Auctions with the Highest Bidding Total
Reliance Jio dominated the purchase activities as expected, spending Rs 88,078 crore to acquire 24.740 GHz of airwaves in the 700 MHz, 800 MHz, 1800 MHz, 3300 MHZ, and 26 GHz bands.
Bharti Airtel, the second-largest telecommunications provider in India, acquired 19.867 GHz of spectrum in the 900 MHz, 1800 MHz, 2100 MHz, 3300 MHz, and 26 GHz bands. It invested Rs 43084 crore in the auction in total.
In accordance with expectations, Vodafone Idea offered Rs 18,799 crore for the spectrum, securing 6.228 GHz of airwaves in the 1800 MHz, 2100 MHz, 2500 MHz, 3300 MHz, and 26 GHz bands.
For 400 MHz in the 26 GHz spectrum, newcomer Adani paid Rs 212 crore.
The successful bidders have the option of paying in 20 equal instalments over the following 20 years (which is also the duration of the right to use the spectrum acquired in the auction). In the event that everyone chooses the option, the first instalment would be worth Rs 13,365 crore.