3.92 lakh crores spectrum auction started, Reliance Jio deposited the most money

A total of 2,251.25 MHz spectrum worth Rs 3.92 lakh crore has been put up for auction. For this, the country’s largest telecom company Reliance Jio has submitted the highest EMD of Rs 10,000 crore for the auction.

3.92 lakh crores spectrum auction started, Reliance Jio deposited the most money

3.92 Lakh Crore spectrum auction started

The auction of spectrum for 4G mobile networks in the country (Spectrum Auction) started on 1 March 2021. A total of 2,251.25 MHz spectrum worth 3.92 lakh crore rupees has been put up for auction. For this, the country’s largest telecom company Reliance Jio has submitted the highest EMD of Rs 10,000 crore for the auction. Apart from Jio, the telecom giant Bharti Airtel and Vodafone Idea will also participate in the spectrum auction process. The validity of the spectrum acquired in this auction will be 20 years.

The spectrum will be auctioned in seven frequency bands – 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz for mobile services. The government expects to get Rs 3.92 lakh crore from the auction of spectrum. However, the frequency of 3300-3600 MHz frequency is not included in the current round of spectrum auction. This spectrum is to be used for 5G services. The auction for this will be held later.

Jio deposited the most money

Private sector telecom companies Reliance Jio, Bharti Airtel and Vodafone Idea have deposited an initial amount of Rs 13,475 crore (EMD) for the spectrum auction. Jio has submitted the highest EMD of Rs 10,000 crore for the auction.

This is a payment plan

Successful bidders will have the option to pay the entire bid amount at one go or pay 25 per cent for the spectrum won in a fixed amount i.e. 700 MHz, 800 MHz, 900 MHz. Apart from this, bidders will have to pay one time 50 per cent for the spectrum acquired in 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz. The remaining amount can be paid in a maximum of 16 monthly installments (EMIs) after two years of withholding.

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