[ad_1]
The Adani group has secured a letter of intent (LoI) from the Department of Telecommunications for the grant of a unified licence for Gujarat circle. The letter of intent was issued on June 28.
A unified licence will allow the group to provide long distance call and internet facilities in Gujarat circle. The group however has stated that it has no plans to offer consumer mobility service and intends to use spectrum for captive private networks. It will have to obtain separate licences to provide services in other circles.
The Adani group is the latest entrant in the telecom sector and has applied for participation in 5G spectrum auction. The DoT released details of companies participating in the spectrum auction on Tuesday.
The pre-qualification of bidders will take place on July 18 and the final list of bidders will be declared on July 20. Bidding will be held for airwaves in multiple bands including crucial 3.5 GHz band and milimetre wave band that is used for 5G services.
The Adani group has made the application through a newly incorporated Adani Data Networks Limited. It has a net worth of Rs 248.35 crore. Net worth of promoter firm Adani Enterprises ( Rs 4730.66 crore) will be used for determining eligibility for the bids.
Adani group is a new entrant in the telecom space and as per the bid condition it will have to obtain unified licence with authorization of access service in specified licenced service areas upon winning spectrum in the auction.
Cash strapped Vodafone Idea has a negative net worth of Rs 80,918 crore as on March 31. Reliance Jio Infocomm and Bharti Airtel have a net worth of Rs 1.97 trillion and Rs 75,886.8 crore respectively as on March 31.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
[ad_2]
Source link
