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Jio to make nearly $1 billion payment for 5G spectrum instalment: Report

The company acquired spectrum worth Rs 88,078 crore in 2022 for 5G deployment. This payment reflects Jio's commitment to its 5G rollout goal of achieving nationwide coverage in India by December 2023.

Edited By: Saumya Nigam @snigam04 New Delhi Published on: August 15, 2023 14:30 IST
Jio, reliance, tech news
Image Source : JIO Jio to make nearly $1 billion payment for 5G spectrum instalment

Reliance Jio is reportedly gearing up to make a payment of around Rs 7,864 crore to the Department of Telecommunications (DoT). The telecom player is paying its second instalment towards the 5G spectrum. The telecom giant acquired the spectrum worth Rs 88,078 crore in 2022 from the DoT to facilitate the rollout of 5G. The forthcoming payment is part of Jio's commitment to this spectrum acquisition, as it aims to achieve nationwide 5G coverage in India by December 2023.

Jio secured spectrum across the 700 MHz, 3.5 GHz, and 26 GHz bands for its 5G network deployment. Alongside 5G SA (standalone) deployment, the company is also poised to unveil its 5G FWA (Fixed Wireless Access) service.

The deadline for Jio's second instalment payment is set for August 17, 2023, according to sources. In contrast, Bharti Airtel, another major player in the Indian telecom sector, had already made an upfront payment of Rs 8,312.4 crore to the DoT in August 2022 for a four-year advance payment towards 5G spectrum instalment. This strategic move allows Airtel to focus on other network investments or consider prepaying for additional years of spectrum instalments.

Vodafone Idea (Vi) and Adani Data Networks are also part of the spectrum acquisitions from the 2022 auctions and will soon be due to make their spectrum instalment payments. Vodafone Idea had recently requested an extension from the government for its statutory payments due to difficulties in raising funds from the market. The payment strategies of these companies for their 5G spectrum instalments remain to be seen.

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All companies, including Jio, Airtel, Vodafone Idea, and Adani Data Networks, are required to complete their second instalment payments by August 17, 2023.

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