Airtel now has the most strong spectrum holdings in the world. Bharti Airtel announced that it has purchased 355.45 MHz spectrum in the Sub GHz, mid-band, and 2300 MHz bands for a cumulative consideration of Rs 18,699 crores in the Department of Telecom's latest spectrum auction.
Airtel has also substantially increased its mid-band and power spectrum holdings as a result of this auction, enabling it to offer an outstanding customer experience at a low cost of capital. Airtel will be able to offer 5G networks in the future due to the full spectrum, the company said in the BSE filing.
Airtel has now acquired the Sub GHz spectrum Pan India footprint, which helps to increase its broad interior coverage and building coverage in each urban area. Furthermore, this valuable spectrum will also boost their coverage in the villages by providing an additional 90 million customers in India with the superior Airtel experience.
Bharti Airtel and Qualcomm Technologies have recently revealed their partnership to accelerate 5G in India. Airtel has recently become India's first telco to demonstrate 5G over a LIVE commercial network in Hyderabad City.
Shares of Bharti Airtel ended the day at Rs 541.25, up 1.68% on BSE. It touched an intra-day high of Rs 543 during the trade.
On the first day of spectrum auction, telcos had submitted offers priced at Rs 77.146 on Monday, which was well above the government's pre-offer estimate, of Rs 45,000. According to official telecommunications (DoT) figures.
The auction was attended by all three telecommunications operators, Reliance Jio Infocomm Ltd, Airtel and Vodafone Idea Ltd., who submitted earnest money in February, DoT said.