Reliance Jio is the top bidder in the Spectrum auction
The spectrum auction has received an overwhelming response from telecom companies. On Tuesday, the two-day auction ended. In the auction, Reliance Jio, Bharti Airtel and Vodafone Idea have competed for 3G and 4G spectrum.
For this, bids worth Rs 77,814.80 crore have been submitted. In this bidding too, Reliance Jio is the topper. The company has agreed to pay Rs 57,122.65 crore for spectrum in 22 telecom circles across the country. If the government accepts the bid, the company's spectrum will increase by 55 per cent to 1717 MHz.
Bharti Airtel bought the spectrum for Rs 18,698.7 crore and Vodafone Idea bought the spectrum for Rs 1,993.40 crore.
Through this auction, the government is expected to receive Rs 19,000-20,000 crore in the current financial year. In the coming financial year (2021-22) another Rs. 6,000-Rs. 7,000 crore could be received by the government.