Reliance Jio submits earnest money deposit of Rs 14,000 crore ahead of 5G auction

NEW DELHI: India’s largest telecom operator Addiction Jio Infocomm submitted an earnest money deposit (EMD) of Rs 14,000 crore ahead of its participation in the 5G auction, while Bharti Airtel put up Rs 5,500 crore.
According to the list of shortlisted bidders published on the Department of Telecommunications website, Adani Data Networks’ EMD amount stands at Rs 100 crore.
Generally, EMD amounts give a general indication of the players’ appetite, strategy and plan to pick up spectrum at an auction. It also determines eligibility points, through which telecom operators target a specific amount of spectrum within a given circle.
Vodafone Idea has set up an EMD of Rs 2,200 crore.
With his EMD at Rs 14,000 crore, Jio’s eligibility points for the auction stand at 1,59,830, the highest in the list of four bidders.
The eligibility points awarded to Airtel are 66,330, while those of Vodafone Idea are 29,370.
Adani Data Networks received 1,650 eligibility points, based on its filing. The 5G spectrum auction is set to begin on July 26.
A total of 72 GHz (gigahertz) of spectrum worth at least Rs 4.3 lakh crore will be offered for sale during the auction.
The auction will focus on radio waves in various frequency bands low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), medium (3300 megahertz) and high frequency (26 GHz) .

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