Jio deposits most earnest money for 5G spectrum auction, Adani the least
Image credit: Deccan Herald
Before the July 26 5G spectrum auction, which will take place, all four of the participating companies have put down earnest money totalling Rs. 21,800 crores.
Reliance Jio, which has a revenue of Rs. 14,000 crores, has the biggest earnest amount of the four organisations using the spectrum. Adani Data Networks, a surprise participant, made the smallest deposit. On July 26, the auction will take place.
The three existing network operators in the nation may feel a great deal of relief as a result of Adani Data Networks’ having the lowest deposit. Based on information released by the department of communications. Reliance Jio contributed Rs 14,000 crore, and Bharti Airtel contributed Rs 5,500 crore in response. With an earnest money deposit of Rs. 2,200 crores, Vodafone Idea came in third. The list was filled up by Adani, which put down Rs. 100 crores.
These bidders now have the qualifying points needed to make a spectrum offer thanks to the earnest money deposit. Reliance Jio receives 159,830 eligibility points based on the deposit amount, followed by Bharti Airtel with 66,330 points, Vodafone Idea with 29,370 points, and Adani with 1,650 points.
Jio, Airtel, and Vodafone Idea will be able to submit higher bids for spectrum than Adani as a result. Adani Data Networks, on the other hand, has stated unequivocally that it will not enter the consumer mobile industry and instead seeks a captive network for its enterprises.
With only a few days remaining till the 5G auction, it’s anticipated that 5G networks will start springing up all over India within a few months. In comparison to 4G, 5G promises better and more dependable data connectivity in addition to higher internet speeds. India is likely to see the sub-6GHz variant of 5G first and may be able to use the 4G infrastructure already in place to get faster overall speeds.
Later on, the much faster mmWave 5G could appear, which could potentially guarantee faster speeds.
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