IndiaRs. Reliance Jio leads 4G spectrum auction at Rs 77,000 crore

Rs. Reliance Jio leads 4G spectrum auction at Rs 77,000 crore


The federal government is holding a spectrum auction for a telecommunications service after five years. Telecom companies have auctioned spectrum worth Rs 77,814 crore in the auction. In which Reliance Jio Bought the airwaves for Rs 57,122 crore Leading the auction Is the company. Airtel has bid Rs 18,699 crore and Vodafone Rs 1,993.40 crore.

Seven companies participated in the airwaves auction in 2016, while only three companies, Geo, Airtel and Vodafone, participated in the airwaves auction which started on March 1. Also, only 4G spectrum was featured in the auction, with 5G spectrum expected to be up for auction.

The auction, which was conducted online, took two days. Telecommunications Secretary Anshu Prakash said the six-round auction ended at 12.45 pm yesterday. Specifically 700, 800, 900, 1800, 2100, 2300, and 2500 MHz bands were sold at auction. Of these, 700 MHz and 2500 MHz spectrum have not been auctioned off. All but two of these megahertz bands were auctioned off at 60 percent. Out of the total 2308.80 MHz spectrum allocated for the auction, the amount of spectrum auctioned was 855.60 MHz.

The government had expected Rs 40,000 crore worth of airwaves to be sold at auction. However, the Ministry of Telecommunications said that it was sold at auction more than expected.

Geo paid Rs 10,000 crore and Airtel Rs 3,000 crore as Earnest deposit for the auction. Vodafone has paid only Rs 475 crore. The companies will be given a 20-year ownership over the spectrum allocated in the auction, the government said in a statement. It is also reported that a 3 per cent usage charge will be levied on these airwaves.

.

The News Gloryhttps://thenewsglory.com/
The News Glory is one of the best news providers in India, we bring you stories on world news, India News, Business, Politics, Technology, Gadgets, Finance and Entertainment. Follow us for special features.