5G Auction
5G auction: Reliance Jio infocomm deposits highest earnest money
New Delhi: Reliance Jio Infocomm has deposited the highest earnest money accounting for more than half of the earnest money deposited by the bidders ahead of the 5G auction.
The four companies participating in the auction together deposited Rs 21,800 crore, according to data published by the Department of Telecommunications.
Reliance Jio deposited Rs 14,000 crore, followed by Bharti Airtel with Rs 5,500 crore, and Vodafone Idea with Rs 2,200 crore as earnest money.
In a relief to the bidding companies, newcomer Adani Data Networks deposited a small amount, signalling that it is not likely to bid fiercely for spectrum.
The earnest money deposited by the bidders gives them eligibility points on the basis of which they can bid for the spectrum.
The telecom department's data shows that Reliance Jio has 159,830 eligibility points, Bharti Airtel has 66,330 points, Vodafone Idea has 29,370 eligibility points and Adani has 1,650 points.
The allotted points indicate that Reliance Jio can bid for a spectrum worth a maximum Rs 1.27 lakh crore.
Bharti Airtel can bid for a maximum of Rs 48,000 crore of the spectrum, Vodafone Idea for Rs 20,000 crore, and Adani Data Network Rs 700 crore based on the points each one of them have garnered.
The companies may choose to bid less than this amount.
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