The bidders for the spectrum are Reliance Jio Infocomm; Adani Data Networks Ltd; Vodafone Idea Ltd, and Bharti Airtel Ltd. Reliance Jio has made an earnest money deposit (EMD) of Rs 14,000 crore. Adani Group has made EMD of Rs100 crore. Bharti Airtel has contributed Rs 5,500 crore as EMD, while Vodafone Idea has contributed Rs 2,200 crore. EMD is indicative of the quantity of airwaves a company can bid for in the auction. Looking at the deposit amounts, Reliance Jio appears to be bidding the most aggressively.
The auction will be held for spectrum in varying frequency bands. The low-frequency band is represented by 600MHz, 700MHz, 800MHz, 900MHz, 1800MHz, 2100MHz and 2300MHz; the mid-frequency band by 3300MHz, and the high-frequency band by 26GHz. Payments for the spectrum can be made in 20 equal annual instalments, each one to be paid in advance at the beginning of each year.
The bidders would be given an option to surrender the spectrum after 10 years...