Jio puts in EMD of Rs 10,000 cr, Airtel & Vodafone Idea put Rs 3000 cr, Rs 475 cr each for spectrum auction
Mumbai: Reliance Jio Infocom (Jio) has put in an earnest money deposit (EMD) of Rs 10,000 crore for the upcoming spectrum auction starting March 1, the telecom department said on Thursday. Rivals Bharti Airtel and Vodafone Idea (Vi) have deposited Rs 3000 crore and Rs 475 crore, respectively.
The details were put out by the Department of Telecommunications (DoT) on Thursday as part of a list of pre-qualified bidders.
The quantum of EMD is indicative of a telco’s bidding strategy as it gives an operator eligibility points, based on which it can target a certain quantum of airwaves in specific circles.