According to industry sources, Reliance Jio has made the highest earnest money deposit (EMD) for participating in the upcoming March 2021 auctions.
Jio has reportedly made EMD of over Rs 90 billion, which would give it the option to buy 4G spectrum worth Rs 450-660 billion in the upcoming auction.
Following Jio is Bharti Airtel in terms of deposit money. Airtel has deposited Rs 30-35 billion, which would allow it to buy 4G airwaves worth Rs 150-250 billion.
Meanwhile, Vodafone Idea (Vi) is said to have put in less than Rs 5 billion, which would allow it to buy 4G airwaves worth 25-35 billion, only in some bands and some circles. It is learnt that Vi has evinced an interest in buying only renewal spectrum and has paid EMD commensurate to the quantity of spectrum.
All the three private telcos submitted their applications for participation in the upcoming auction of airwaves by the Department of Telecommunications (DoT). MSTC has been selected to handle the spectrum auction.