Reliance Jio deposits highest EMD for spectrum auction, followed by Bharti Airtel
As per the details published by the Department of Telecom, for the upcoming spectrum auction Reliance Jio has deposited the highest earnest money of Rs 3,000 crore. This allows the company to bid for maximum radio waves.
According to pre-qualified bidder details released by the DoT, Bharti Airtel has submitted the earnest money deposit (EMD) of Rs 1,050 crore and Vodafone Idea (VIL) of Rs 300 crore.
Based on the EMD amount they have deposited the companies get points which permits them to bid for the number of circles and quantity of spectrum they want. Higher points mean a higher capability to place bids.
The government has scheduled an auction of eight spectrum bands for mobile phone services from June 6. The base price of the spectrum auction is Rs 96,317 crore.
All the 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 frequencies being put under the hammer are valued at Rs 96,317 crore on base price.
The spectrum will be allocated for 20 years. The successful bidders can make payments in 20 equal annual instalments. The DoT has provided an option to surrender the spectrum acquired through the upcoming auction after a minimum period of 10 years.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
