Reliance Jio submits earnest money deposit of Rs 14,000 crore ahead of 5G auction

India’s largest telecom operator Reliance Jio Infocomm has submitted earnest money deposit (EMD) of Rs 14,000 crore ahead of its participation in 5G auction, while Bharti Airtel has put in Rs 5,500 crore.

According to the list of pre-qualified bidders posted on the telecom department’s website, the EMD amount of Adani Data Networks stands at Rs 100 crore.

Typically, EMD amounts give a broad indication of players’ appetite, strategy and plan for picking up spectrum in an auction. It also determines the eligibility points, through which telcos target specific amount of spectrum in a given circle.