Adani data network to be a participating bidder for 5G spectrum auction

The Adani Group, with a net value of Rs 248.35 crore, will take part in the 5G auctions via its subservient Adani Data Networks.

Gautam Adani-wheeled, Adani Group on Saturday declared that it will compete in the upcoming 5G spectrum auctions, although it disqualified itself from the consumer mobility market.

The Adani Group, with a net value of Rs 248.35 crore, will take part in the 5G auctions via its subservient Adani Data Networks. The business is an entirely owned subsidiary of Adani Enterprises Limited, with a net worth of nearly Rs 4730.66 crore.

The Adani group being participating bidders provided the Department of Telecommunications with information regarding ownership as required by the auction regulations (DoT).

Adani Data Networks has additionally received a letter of intent from the Department of Telecommunications for the issuance of a unified license with authorization of ILD(national area), NLD(national area), and ISP-B in the Gujarat area.

With a paid up capital of Rs 32, 119 crore, Vodafone Idea has a negative net worth of Rs 80,918 crore as of March 31, 2022.

As of March 31, Bharti Airtel has a net worth of Rs 75, 886.8 crore and paid up capital of Rs 2,795 crore. As of March 31, Reliance Jio Infocomm has a net worth of Rs 1, 97, 790 and paid up capital of Rs 1, 54, 125 crore.

On Tuesday, the DoT published the list of candidates for the 5G spectrum auction. It was stated that the list "does not in any way imply that these applications have been evaluated or pre-qualified," and is simply for informational purposes.

In addition to Adani, the DoT also received applications from Reliance Jio Infocomm, Vodafone Idea India, and Bharti Airtel. The 5G auctions are scheduled to begin on July 26.