The Union Cabinet extended the Fisheries Infrastructure Development Fund for another three years and approved the auction of telecom spectrum bands at a base price of ₹96,317.65 crore.
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said.
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Why Reliance Jio bought more spectrum than Airtel, Vi
Jio has bid aggressively to bridge the gap between spectrum market share and subscriber market share as it was facing network constraints with strong subscriber growth, said Credit Suisse
Manu Kaushik | March 3, 2021 | Updated 18:57 IST
Jio purchased 488.35 MHz spectrum across three bands
The just-concluded spectrum auctions have received higher-than-expected participation from telecom operators, primarily Reliance Jio and Bharti Airtel. Jio purchased 488.35 MHz (megahertz) of airwaves across three bands (800 MHz, 1800 MHz and 2300 MHz) for Rs 57,122.65 crore. This was highest among all telco who collectively bought 855.7 megahertz (MHz) of airwaves for Rs 77,814 crore over two days.
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