Airtel likely to spend the most at spectrum auctions, govt may get up to $2 bn

livemint.com:

₹16,600 crore, as telecom firms are likely to bid for airwaves to bolster capacity in certain bands or circles, analysts said. They would also be keen on renewing spectrum where it's expiring, resulting in demand in the 800, 900, 1800 and 2300 MHz bands. Analysts expect Bharti Airtel to lead the spending with purchases worth $0.5-1.5 billion, with limited participation by Vodafone Idea, which has spectrum renewals in just two circles, and Reliance Jio, that may look to add spectrum in some bands.

“Bharti Airtel has renewals for 42MHz of spectrum in 1800MHz and 900MHz bands in six circles. At reserve prices, this would result in spending of ₹38 billion ( ₹3,800 crore). It may also bid in certain circles to increase its holding in 800MHz/1800MHz bands to 10-15MHz and in 2300MHz band to 40MHz.

This could lead to a maximum spend of ₹123 billion ( ₹12,300 crore)," said analysts at Jefferies in a note. They noted that while Airtel had bought spectrum in 900MHz and 18000MHz bands in the previous auctions, thus de-risking its operations, it may renew the bulk of its spectrum in these markets to protect or increase its market share. “We project incremental spectrum liability of ₹51 billion ( ₹5,100 crore) in FY2025 for Bharti Airtel.