5G Spectrum Auction: Who Won The Auction With 88,078 Crores Bid?
India’s 5G Spectrum Auction has been completed with the total value of ₹1,50,173 Crore. A giant telecom company won it by bidding 88,078 Crores. Can you guess the biggest bidder?
5G Spectrum Auction Highlights: The 5G spectrum auction was being watched by people all throughout the nation. Reliance Jio became the highest bidder on Monday.
With a bid of Rs 88,078 crore, the business has acquired nearly half of the overall spectrum sold during the auction for the following 20 years.
It is important to note that Jio purchased spectrum in a number of bands, including the desirable 700 MHz band, in the 5G spectrum auction held by the Department of Telecom, Government of India.
Let us point out that if the 700 MHz band is utilized, a sizable area can be covered by a single tower.
Record Revenue of ₹1,50,173 Crore From Auction
According to Ashwini Vaishnav, minister of communications, 5G services can begin as early as October.
The government stated that the response to the 5G spectrum auction is stronger than anticipated and has surpassed the record level of 2015.
The government made this announcement on the very first day of the auction. A record amount of money, Rs 1.09 lakh crore, was made from a spectrum auction earlier in 2015.
This time India got a record revenue of 1.50 Lakh Crore from 5G Spectrum Auction. However it won’t be revealed which company received how much spectrum until the process’s auction is over.
How Much 4 Companies Have Paid For 5G Spectrum?
Let us inform you that Adani Group has acquired spectrum in the 26 MHz band for this purpose.
Bharti Airtel, owned by telecom tycoon Sunil Mittal, paid Rs 43,084 crore to purchase 19,867 MHz of spectrum. Vodafone Idea has also acquired spectrum for Rs 18,784 crore.
‘Azadi Ka Amrit Mahotsav’ With 5G Technology
Akash Ambani, the chairman of Reliance Jio Infocomm Limited and Mukesh Ambani’s eldest son, declared that Jio is prepared to lead India in the 5G era after 4G, with a greater goal and more steadfast resolve.
Akash said, “We will bring out 5G across India to commemorate ‘Azadi Ka Amrit Mahotsav’. Jio is dedicated to provide premium, reasonably priced 5G and 5G-enabled services.
Industries like education, health care, agriculture, manufacturing, and e-governance will benefit from this.”