Reliance Jio spends Rs 11,000 cr to buy spectrum in 14 circles

Reliance Jio spends Rs 11,000 cr to buy spectrum in 14 circles

Mukesh Ambani-owned Reliance Jio on Friday announced that it has acquired telecom airwaves in 14 circles across the country, spending Rs 11,054 crore.

The company is set to offer voice and data telephony with its latest purchase in 1800 megahertz band, said an official release.  Jio bought its latest spectrum in Delhi, Mumbai and Calcutta as well all A category circles. “Reliance Jio will be the holder of the largest quantum of liberalized spectrum and with the longest residual spectrum life. Reliance Jio’s seamless 4G services  through an integrated ecosystem, aims to provide high quality access to innovative digital content, applications and services,” CMD of Reliance Industries, Mukesh D Ambani said. 

The spectrum was acquired at 31 per cent premium to the reserve price. This is lower than the 55 to 110 per cent premium paid by operators who won spectrum in the 900 Mhz band, the company said.

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