Jio puts in highest EMD at Rs 14,000 crore, Adani’s Rs 100 crore signals limited bidding

Kolkata | Mumbai: Reliance Jio has submitted earnest money deposit (EMD) of Rs 14,000 crore, the highest among all the companies bidding for 5G airwaves, signalling its aggressive intent in the upcoming auction starting July 26. New entrant Adani Data Networks deposited Rs 100 crore, which possibly underlined its game plan of picking up limited airwaves in select areas for captive networks.

Bharti Airtel put in EMD of Rs 5,500 crore, which will possibly ensure it can buy pan-India 5G airwaves comfortably. Cash-strapped Vodafone Idea (Vi) surprised experts by submitting Rs 2,200 crore as earnest money, indicating that it will buy 5G airwaves but in limited quantities and in its priority markets, say analysts.