RIL telecoms unit applies to bid in India spectrum auction: Sources

Tags: Companies
The telecoms unit of energy major Reliance Industries has applied to bid in a spectrum auction next month, said a source with direct knowledge of the matter.

The move by Reliance Jio Infocomm Ltd comes as a surprise as the company is working to launch 4G wireless broadband services soon.

Idea Cellular and Reliance Communications have also applied to bid in the spectrum auction, sources said.

India will auction spectrum in two separate frequency bands starting February 3. The government hopes to raise at least $1.8 billion from the sale, crucial to its efforts to rein in the country's budget deficit.

Cellular carriers have to submit initial interest for participating in the auction by Wednesday.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The economic survey falls in step with the BJP’s election manifesto

    It’s always tough to find something wrong with the annual economic survey as it only articulates the government’s desire to set its house in order

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Why higher education needs innovation

India is such a great country that it creates complexity ...

Zehra Naqvi

We must overcome the fear of death

It is the biggest irony that the only thing that’s ...

Dharmendra Khandal

Jawai leopards and locals can coexist peacefully

At first glance, the Jawai landscape seems like a large ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture