Reliance Jio has acquired spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz, and 26GHz bands in the auctions conducted by the Department of Telecommunications, Government of India. The company said that the acquisition of the right to use this spectrum will enable Jio to build the world's most advanced 5G network and further strengthen India's global leadership in wireless broadband connectivity.
The total cost of acquiring the right to use technology agnostic spectrum for a period of 20 years is Rs 88,078 crore. As per terms of the spectrum auction, the spectrum payments have to be made over 20 equated annual installments, with interest computed at 7.2% per annum.
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