Reliance Jio deposits Rs 3,000 crore, three times Bharti Airtel's Rs 1,050 crore, for India's upcoming spectrum auction.
Reliance Jio has deposited Rs 3,000 crore as earnest money for India's upcoming spectrum auction, three times more than rival Bharti Airtel's deposit of Rs 1,050 crore. Vodafone Idea has deposited Rs 300 crore. The auction, scheduled for June 6, will see the Department of Telecommunications (DoT) offer spectrum worth Rs 93,000 crore. Reliance Jio's higher deposit reflects its aggressive intent to acquire airwaves, particularly in circles where rivals need to renew permits.
May 16, 2024
9 Articles