Adani puts Rs 100 crore deposit ahead of 5G auction, unlikely to bid for all India coverage

Ahead of its participation in the 5G auction, Adani Data Networks submitted an earnest money deposit (EMD) of Rs 100 crore. Based on this deposit, the group received eligibility points of 1,650.

“With Rs 100 crore EMD, Adani Data Networks is unlikely to bid spectrum for pan-India. The company can get 200 MHz of 26 GHz spectrum in selective circles,” said sources in the Department of Technology.

“Adani Data Networks can buy spectrum worth Rs 700 crore with this amount of EMD, and it may be limited to captive networks only,” said the sources.

There were speculations that the Adani group may try to enter pan-India full-scale telecom service, as the company planned to secure 5G spectrum through auction.