4G spectrum auction: Reliance Jio makes the highest earnest deposit

Reliance Jio is learnt to have made the highest earnest money deposit (EMD) for participating in the upcoming auctions in an attempt to gather the maximum amount of spectrum along with some additional airwaves for future use.

According to calculations, if the company were to buy one block of spectrum, in all 22 telecom circles, in each band, it would have deposited at least Rs 7,800 crore, as earnest money deposit.

Airtel is right behind Jio in terms of deposit money, followed by Vodafone Idea (Vi) with the least submission. It is learnt that Vi has evinced an interest in buying only renewal spectrum and has paid EMD commensurate to the quantity of spectrum.