India's first spectrum auctions in 5 years ended on Tuesday. Telecom companies placed bids worth Rs 77,814 crore, with Mukesh Ambani's Reliance Jio accounting for over 70 percent of the bids.
With over Rs 57,000 crore, Reliance Jio bid the most and followed by Bharti Airtel at Rs 18,700 crore, while Vodafone-Idea bid value is shy of Rs 2,000 crore.
To summarise – Bharti has bid economically and not very aggressively, Reliance Jio has bid a little more aggressively compared to what the street was anticipating, but in the future for the 5G upcoming auctions we could see a cut in reserve price which would be positive for the entire industry.
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Reliance Industries, the parent company of Reliance Jio, owns Network 18 that publishes CNBCTV18.com.