Adani Data Networks stands at ₹ 100 crores according to the list of pre-qualified bidders posted on the telecom department’s website.
The auction for the 5G spectrum will commence on Tuesday. The 5G technology claims to be 10 times faster than 4G and 30 times faster than 3G.
The government had given its nod to setting up captive 5G networks by big tech firms. The auction — entailing 72 GHz of the spectrum — is set to commence on July 26, 2022, conclude by July end, and the rollout is expected by September this year. The spectrum will be assigned for 20 years.
Minister of Communications Ashwini Vaishnaw had expressed confidence that telecom players would participate enthusiastically in the upcoming spectrum auction and try make it an impact in communications sector.
The participants in the race are Reliance Jio, Airtel, Vodafone Idea. Adani Group group is the new entrant that will participate in the bidding process of the spectrum auction, having submitted a combined ₹ 21,400 core in earnest money deposit (EMD).
The government is expecting to earn around Rs 1lakh crore from the much-awaited 5G spectrum auction.
The competition is among four players — Reliance Jio, Bharti Airtel, Vodafone Idea, and Adani Data Networks — who have all deposited Rs 21,800 crore. Reliance Jio submitted earnest money of Rs 14,000 crore, and new entrant Adani put in a notional Rs 100 crore.
Telecom market leader Reliance Jio Infocomm has submitted an EMD of ₹ 14,000 crores ahead of its participation in the 5G auction. In comparison, Bharti Airtel has put in ₹ 5,500 crores.
Adani Data Networks stands at ₹ 100 crores according to the list of pre-qualified bidders posted on the telecom department’s website.
Bharti Airtel stands as the second highest in terms of the amount as earnest money deposit (EMD) at Rs 5,500 crore, a little under 40 percent of the amount paid by Ambani-owned JIO.
The not-so-stable Vodafone Idea has furnished an EMD of Rs 2,200 crore, despite a net worth of negative Rs 80,918 crore.
Based on the earnest money, the government could mop up a maximum of Rs 1.95 lakh crore from the auction.
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