Jio, Airtel, Vodafone Idea to participate in spectrum auction worth Rs 96,317 crore

New Delhi . Telecom companies like Reliance Jio, Bharti Airtel and Vodafone Idea have submitted applications to bid in the spectrum auction worth Rs 96,317 crore starting from June 6. Earlier, in the last auction held in 2022, the name of the Adani Group company had surprisingly appeared among the bidders. However, there is no new name in the auction this time. “Reliance Jio, Bharti Airtel and Vodafone Idea have submitted applications for the spectrum auction,” an official source said on Monday. The government will auction eight spectrum bands for mobile phone services at a base price of about Rs 96,317 crore. .

All available spectrum in the 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz bands are part of the auction. The total spectrum value at base price is Rs 96,317 crore. The spectrum will be allotted for 20 years and successful bidders will be allowed to make payment in 20 equal annual installments. The Department of Telecommunications has provided an option to ‘surrender’ the spectrum acquired through the upcoming auction after a minimum period of 10 years. The department will publish the ownership details of the applicants on May 10. The last date for withdrawal of applications is May 17 and the final list of bidders will be announced on May 20.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.

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