5G spectrum auction: Airtel makes bids worth Rs 43,084 crore to acquire 19867.8 MHz spectrum

New Delhi [India], August 1 (ANI): Bharti Airtel has made bids worth Rs 43,084 crore to acquire 19867.8 MHz spectrum in 900 MHz, 1800 MHz, 2100MHz, 3300 MHz and 26 GHz frequency bands in the 5G spectrum auction that concluded on Monday.
Bharti Airtel is the second biggest bidder in the 5G spectrum action. Reliance Jio is the biggest bidder accounting for 58.65 per cent of the total valued at Rs 1,50,173 crore.
"Airtel is delighted with the results of the 5G auction. This spectrum acquisition at the latest auction has been a part of a deliberate strategy to buy the best spectrum assets at a substantially lower relative cost compared to our competition," Gopal Vittal, MD & CEO, Bharti Airtel, said in a statement.
"This will allow us to raise the bar on innovation and address the emerging needs of every discerning customer who demands the best experience in India. We are confident that we will be able to deliver the best 5G experience in India in terms of coverage, speeds and latency," he said.
Vittal said the new spectrum acquired through the auction would allow Bharti Airtel to change a lot of established paradigms for both B2C and B2B customers.
"5G technology is the revolution that can alter India's manufacturing, services and several other sectors. We remain fully committed to the Government's Digital India vision and will continue to do what is needed to ensure that India becomes a beacon for the world in terms of technology," Vittal said.
Airtel has secured 5G spectrum for 20 years in this auction. The acquisition of this "vast amount of spectrum strapped on to an already industry-best existing pool of spectrum" will mean that the company does not need to spend any material sum on the spectrum for many years to come, Bharti Airtel said in a statement.
In addition, this spectrum acquisition has enabled Airtel to drastically reduce the payout towards spectrum usage charge (SUC) and eliminate the adverse SUC arbitrage compared to new entrants, the company claimed.
Bharti Airtel said it plans to launch 5G services in every part of the country starting with key cities.
"The company is convinced that its higher-quality customer base will adopt 5G devices at a rapid pace in the country. In addition, Airtel's strong presence in the Enterprise segment will allow for a slew of industrial use cases further strengthening Airtel's leadership in the B2B market," it said. (ANI)