Reliance Jio Infocomm to pay ₹7,864 crore 5G instalment this week
Reliance Jio Infocomm will pay ₹7,864 crore this week to the Department of Telecommunications (DoT) towards its second instalment for 5G spectrum acquired in last year's auction, as it scales up the roll out of its next-gen mobile broadband services nationally by the year-end. The Mukesh Ambani-led telecom market leader was the largest 5G spectrum buyer in the July 2022 auction, acquiring airwaves worth ₹88,078 crore, including those in the coveted 700 MHz band.
«The deadline for the second instalment payment for 5G spectrum acquired is August 17, and Jio will definitely pay on time,» a person aware of the matter told ET. Jio didn't respond to ET's emailed query.
Jio's nearest rival, Bharti Airtel, had made a ₹8,312.4 crore upfront payment to DoT in August 2022, clearing its 5G spectrum instalment dues for four years in advance. Cash-strapped Vodafone Idea (Vi) and the Adani Group also need to pay ₹1,680 crore and ₹18.94 crore as their respective second instalments towards 5G spectrum that it acquired, by August 17.
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