Reliance Jio Requires Rs 28,000 Crore to Renew Spectrum, Vi Required to Spend Less

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Reliance Jio, the largest wireless operator in India is required to spend Rs 28,000 crore in the upcoming spectrum auction expected to be held in March, Motilal Oswal said on Wednesday. The firm engaged in the financial services in a report said that the upcoming spectrum auction “would cater largely to the renewal of expiring spectrum coming up” in the next financial year. The Union Cabinet on Wednesday approved the Department of Telecommunications (DoT) proposal to conduct an auction for spectrum across multiple bands including 700 MHz, 800 MHz, 900 MHz, 1800 MHz and 2100 Mhz.

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Reliance Jio Required to Spend The Most in Spectrum Auctions

Further, the spectrum in 2300 MHz and 2500 MHz bands will also be up in the auction with the government highlighting that a total of 2251.25 MHz will be under the hammer. In a release, the government also highlighted that the 2251.25 MHz of spectrum is valued at Rs 3.92 lakh crore at a base reserve price.

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“The auction would cater largely to the renewal of expiring spectrum coming up in FY22, along with fresh spectrum in the remaining bands,” Motilal Oswal said in its report.

The firm highlighted that Reliance Jio would require capital expenditure of Rs 28,000 crore to renew its expiring spectrum at reserve price while Bharti Airtel would require Rs 13,000 crore. Further, Vodafone Idea is said to require the least capital expenditure of Rs 8300 crore to renew its expiring spectrum.