India’s 5G auction kicks off today; And we have a surprise entry!

  • Bidders include all the three major mobile operators in India: Reliance Jio, Bharti Airtel and Vodafone Idea. The fourth contender was the surprise entry of Indian billionaire Gautam Adani.
  • A total of 72 gigahertz of 5G spectrum will be on the block, for which winning bids will retain the rights for 20 years.
  • In total, the four bidders have put up $2.7 billion (218 billion Indian rupees) in earnest money, the mandatory sum required to confirm a contract.