Jio, Airtel, Vodafone Idea to participate in Rs 96,317 crore spectrum auction

New Delhi: Telecom operators Reliance Jio, Bharti Airtel, and Vodafone Idea have submitted their application to bid for Rs 96,317 crore spectrum auction, which is scheduled to start from June 6, according to sources.

The last auction held in 2022 had the Adani Group firm as a surprise bidder but there is no new name for the upcoming auction.

"Reliance Jio, Bharti Airtel, and Vodafone Idea have submitted applications for spectrum auction," an official source said.

The government will auction eight spectrum bands for mobile phone services at a base price of about Rs 96,317 crore.

All the available spectrum in the 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz bands are part of the auction.

The total frequencies being put under the hammer are valued at Rs 96,317 crore on base price.

The spectrum will be assigned for 20 years, and successful bidders will be allowed to make payments in 20 equal annual instalments.

The DoT has provided an option to surrender the spectrum acquired through the upcoming auction after a minimum period of 10 years.

The DoT will publish ownership details of the applicants on May 10.

The last date for withdrawal of applications is May 17, and the final list of bidders is scheduled to be declared on May 20.