The two-day auction process of the telecom sector came to an end on Tuesday. The spectrum auction process of the telecom sector took place in India after five years, with a total purchase of airwaves worth Rs 77,814 crore. Mukesh Ambani’s company Reliance Jio made the most purchase of AirWeb out of this. Reliance Jio has bid for Rs 57,122 crore. Of this, 2,250 megahertz spectrum was auctioned on Monday. The telecom companies will pay the spectrum prices in the next 18 years. Jio has a range available for an average of 15.5 years.
Spectrum Auction Reserve Price was Rs 4 lakh crore.
The telecom signal of the 2,250 MHz spectrum was initially reserved for seven bands at Rs 4 lakh crore. Its auction started on Monday. Telecom Secretary Anshu Prakashan said that about 855.60 MHz spectra were sold for Rs 77,814 crore in the last two days. Of this, Reliance Jio bid spectrum worth Rs 57,122 crore. The company has bought range for five circles at auction. This will help him increase 4G coverage. Airtel has made a bid of Rs 18,699 crore for RadioWave. This will help the company to provide 5G service in the coming days. At the same time, Vodafone Idea bought airwaves worth Rs 1,993 crore.
The highest bid for 700 MHz
During the spectrum auction, bids have made for the 800 MHz, 900 MHz, 1800 MHz, 2100 MHz and 2300 MHz bands. But no bids have made for the 700 and 2500 MHz bands. During the spectrum auction, a third bid was made for the 700 MHz band, which had not been auctioned since 2016.