Reliance Jio to Pay DoT Second Installment of 5G Auction Fee
As it accelerates the roll out of its next-generation mobile broadband services nationally by the end of the year, 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.
The Mukesh Ambani-led telecom market leader purchased airwaves worth 88,078 crore, including those in the highly sought-after 700 MHz band, making it the largest 5G spectrum buyer in the July 2022 auction.
According to a source with knowledge of the situation, Jio will unquestionably make the second installment payment by the due date of August 17 for the 5G spectrum it has acquired.
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.