The aggregate value for the right to utilize this spectrum is Rs 1,497 crores, stated Reliance JioMukesh Ambani-led Reliance Jio Infocomm revealed on Tuesday, April 6, that it has actually participated in an arrangement with Bharti Airtel Limited for acquiring the right to use spectrum in the 800MHz band in Andhra Pradesh, Delhi and Mumbai circles through spectrum trading.
This means that Bharti Airtel has actually transferred the 'right to utilize' of its 800 MHz spectrum in 3 circles, viz, Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz), and Mumbai (2.50 MHz) to Reliance Jio.
(Also Read: Spectrum Auction Concludes With 77,815 Crore Bids, Reliance Jio Emerges Leading Purchaser )According to a statement released by Reliance Jio, the aggregate value for the right to use this spectrum is Rs 1,497 crores, that includes today worth of an associated deferred payment liability of Rs 459 crores, based on any transaction-related adjustments.Post the contract, Reliance Jio will have 2X15MHz of spectrum in the 800MHz band in the Mumbai circle, 2X10MHz of spectrum in the 800MHz band in Andhra Pradesh and Delhi circles.
The transaction goes through statutory and regulatory approvals.Meanwhile, in the Spectrum Auction 2021, Reliance Jio emerged as the leading purchaser and cornered over half of the telecom spectrum auctioned by the government, offering around Rs 57,123 crore to consolidate its holding.
Telecom huge Bharti Airtel bid Rs 18,699 crore to pick up 355.45 megahertz (MHz) out of the 855.60 MHz of radiofrequency, offering it the 'most powerful' spectrum holding across the nation.