Reliance Jio and Airtel's net worth surges ahead of 5G auction; Vodafone Idea struggles
Reliance Jio and Bharti Airtel’s net worth has improved sharply since the last spectrum auction in August 2022 even as Vodafone Idea’s negative net worth widened amidst its continuing financial struggles.
In the upcoming auction, scheduled to start on June 6, the three private telecom players will be competing for Rs 96,317.65 crore worth of 5G airwaves.
As per details submitted by the companies to the Department of Telecommunications (DoT), Reliance Jio’s net worth at the end of March 31, 2023, stood at Rs 2,15,992 crore. In the last auction, the wholly owned subsidiary of Jio Platforms, had a net worth of Rs 1,97,790 crore. Similarly, Airtel’s net worth has risen to Rs 86,260 crore as on December 31, 2023, from Rs 75,886 crore in the last auction.
Vodafone Idea’s net worth as on December 31, 2023, stood at a negative of Rs 1,16,886 crore. The company has also shared its figures as on March 31, 2023, wherein its net worth stood at a negative of Rs 93,320 crore. In the last auction, Vodafone Idea’s net worth was a negative Rs 80,918 crore.
The Government of India is the largest shareholder in Vodafone Idea with 24.27% stake. The promoters Vodafone Group and Aditya Birla Group hold 36.87% stake in the company.
All the companies participating in the auction are required to submit ownership and net worth details to the DoT.
Airwaves in 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz bands will be put on sale.
The sale, however, is likely to be a muted affair as the telcos have
