New Delhi, Aug 01, 2022, By Special Correspondent
New Delhi, Aug 1: On expected lines, billionaire Mukesh Ambani's Jio emerged as the top bidder for 5G telecom spectrum in a seven-day auction ending on Monday.
A record over Rs 1.5 lakh crore worth of 5G telecom spectrum, capable of offering ultra-high speed mobile internet connectivity, was sold in which Jio
consolidated its leadership position.
Provisional data put the total bids at Rs 1,50,173 crore, according to sources.
The airwaves are capable of offering speeds about 10 times faster than 4G and lag-free connectivity, which can enable billions of connected devices to share data in real-time. It was followed by Bharti Airtel and Vodafone Idea Ltd.
The mop-up from the 5G spectrum is almost double at Rs 77,815 crore worth 4G airwaves sold last year and triple of Rs 50,968.37 crore garnered from a 3G auction in 2010.
New entrant Adani group is said to have bought 26 Mhz spectrum for setting up a private telecom network.
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