Spectrum auction ends, Reliance Jio becomes biggest buyer with ₹57,122-cr bids

Telecom major Reliance Jio got the biggest bid on Indian government’s two-day-held 4G spectrum auction on Tuesday as it picked up 488.35 MHz radiowaves worth ₹57,122.65 crore, said Telecom Ministry.

Meanwhile, Bharti Airtel picked up 355.45 MHz radiowaves worth ₹18,699 crore in the just-concluded auction, while rival Vodafone Idea bought 11.80 MHz spectrum worth ₹1,993.40 crore, the ministry added.

Meanwhile, Telecom Department Secretary Anshu Prakash announced that the spectrum auction concluded today at 12.45 pm with 6 rounds of bidding and also added that the response of the bids were “better than expected.” A total of ₹77,814 crore is the value of overall bids received for 855.60 MHz spectrum.