Mukesh Ambani-led Reliance Jio Infocomm Limited announced on Tuesday, April 6, that it has entered into an agreement with Bharti Airtel Limited for the acquisition of right to use spectrum in the 800MHz band in Andhra Pradesh, Delhi, as well as Mumbai circles through spectrum trading. According to a statement released by Reliance Jio, the aggregate value for the right to use this spectrum is Rs 1,497 crores, inclusive of the present value of an associated deferred payment liability of Rs 459 crores, subject to any transaction related adjustments.
With the current trading of right to use spectrum, Reliance Jio will have 2X15MHz of spectrum in the 800MHz band in the Mumbai circle. It will have 2X10MHz of spectrum in the 800MHz band in Andhra Pradesh and Delhi circles, further consolidating its spectrum footprint in these circles.