Mukesh Ambani-led Reliance Jio on Monday emerged as the biggest bidder in India’s largest-ever auction of 5G spectrum, PTI reported, citing Union Telecom Minister Ashwini Vaishnaw. Reliance Jio acquired a total of 24,740 MHz of spectrum for Rs 88,078 crore.

The Adani Group, which participated in the 5G spectrum auction for the first time, also bought 400 MHz for Rs 212 crore. It bought the spectrum in the 26 GHz band, which is not for public networks.

In the auction, which started on July 26, a total of 72,097.85 MHz of spectrum with a validity period of 20 years was offered by the government. The auction was held for spectrum in various frequency bands – low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz) and high (26 GHz) .

Besides Reliance Jio and the Adani Group, the participants in the auction included Sunil Bharti Mittal’s Airtel, and Vodafone Idea.

In June, while approving the spectrum auction, the government said that it expected telecom service providers to utilise mid and high band spectrums to roll out 5G-based technology services in the country.

5G is capable of providing a speed about 10 times higher than its predecessor 4G networks.

On Monday, Union Telecom Minister Ashwini Vaishnaw said that a total bid of Rs 1,50,173 crores was received in the auction.

“[A total of] 72,098 MHz of spectrum was offered for auction, and out of that 51,236 MHz has been sold,” Vaishnaw said, adding that 5G services could be launched in India by October, according to ANI.

Apart from Reliance Jio and the Adani Group, Bharti Airtel bought a 19,867 MHz airwave across different bands for Rs 43,084 crore. Vodafone Idea Limited bought a 6,228 MHz spectrum for Rs 18,784 crore.