Home News Telecommunications

India sells record US$19 billion airwaves with Reliance top buyer

Bloomberg8/1/2022 09:08 PM GMT+08  • 3 min read
India sells record US$19 billion airwaves with Reliance top buyer
Photo: Bloomberg
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

India auctioned airwaves worth US$19 billion ($26.2 billion), where billionaire Mukesh Ambani-led Reliance Jio Infocomm Ltd. emerged the top buyer spending more than US$11 billion in a bid to cement its edge over rivals.

The South Asian nation sold spectrum, including 5G airwaves, worth 1.5 trillion rupees (US$19 billion) across multiple bands, India’s telecom minister Ashwini Vaishnaw told reporters in New Delhi on Monday, confirming the government’s forecast of a record collection.

Reliance Jio, India’s largest wireless operator, bought 24,740 megahertz of airwaves for 880.78 billion rupees, the minister said.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.