Private telecom company Bharti Airtel has acquired 97 MHz spectrum in key circles for 20 years at a cost of Rs 6,857 crore, according to a stock exchange filing on Wednesday. This acquisition likely made Airtel the highest spender in India's second 5G spectrum sale, which saw the government collect approximately Rs 11,300 crore.
Out of the total acquisition, Bharti Hexacom, a subsidiary of Bharti Airtel, purchased 15 MHz for Rs 1,001 crore. In a press release, Bharti Airtel detailed its acquisition of spectrum in the 900 MHz, 1800 MHz, and 2100 MHz frequency bands. The company successfully renewed spectrum set to expire in 2024 and added additional spectrum to strengthen its mid-band holdings across key circles.
Gopal Vittal, MD & CEO of Bharti Airtel, stated, "Airtel continues to judiciously acquire the right amount of spectrum to deliver the best possible experience to our customers. In this auction, we have bolstered our sub-giga hertz and mid-band holding which will significantly improve our coverage especially indoor."
India’s spectrum auction concluded swiftly on the second day of bidding, ending within hours on Wednesday morning. Telecom operators purchased over Rs 11,300 crore worth of radio waves, which is only 12% of the Rs 96,238 crore minimum value set by the government. The auction offered 10 GHz of spectrum across various bands, ranging from 800 MHz to 26 GHz.
On the first day of the auction, June 25, five rounds of bidding took place. However, limited activity on the second day led officials to close the auction by 11:30 AM. This 2024 auction, held nearly two years after the previous one, featured a diverse range of frequencies including 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300 MHz, and 26 GHz.
