As per terms of the spectrum auction, the payments will have to be made over 20 equated annual installments, with interest computed at 7.2 percent per annum.
Digital services provider Reliance Jio on August 1 acquired spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz and 26GHz bands in the 5G auctions conducted by the Department of Telecommunications, Government of India.
Jio has acquired a unique combination of low-band, mid-band, and mmWave spectrum, which coupled with the company’s deep fibre network and indigenous technology platforms, will let it provide 5G everywhere and to all. With this, the company has consolidated its leadership position in all 22 circles and enabled Jio to become the only operator providing “True 5G services across India”.
The total cost of acquiring the right to use the technology agnostic spectrum for a period of 20 years is Rs 88,078 crore. As per terms of the spectrum auction, the spectrum payments will have to be made over 20 equated annual instalments, with interest computed at 7.2 percent per annum.
The acquisition of the right to use this spectrum will enable Jio to build an advanced 5G network and strengthen the country’s wireless broadband connectivity further. Jio’s 5G network will also “enable the next generation of digital solutions that will accelerate India’s AI-driven march towards becoming a $5+ trillion economy”, the company said in a release.