In the 4G spectrum auctions ended on March 2, the government sold airwaves worth Rs77,814 crore, or 37% of the over 2308 MHz of spectrum of sale. The 700MHz airwaves went unsold again, like in 2016.
Bharti Airtel’s upfront payment is awaited by the telecom department.
Shares of Vi were trading at Rs 9.93, up 0.91% in the afternoon trade on the BSE on Thursday. Jio’s parent Reliance Industries shares were trading at Rs 2047.15, down 0.39%, on the BSE.
Jio picked up spectrum in 22 circles across India in the 800 MHz, 1800 MHz and 2300 MHz bands for Rs 57,123 crore. .
Rival Airtel acquired 355.45 MHz of spectrum across the 800 MHz and 900 MHz bands, besides the 1800 MHz, 2100 MHz and 2300 MHz bands, for Rs 18,699 crore.
Vi, the least aggressive bidder in the 4G auction, bought 11.8 MHz of airwaves in five circles for Rs 1,993.4 crore and according to DoT.
Jio and Bharti Airtel bulked up on crucial airwaves to cater to the surge in data usage and future-proof themselves ahead of 5G rollouts, while Vodafone Idea (Vi) bought spectrum needed to beef up its 4G holdings.