Reliance Jio Info COMM Ltd (RJIL) in a statement issued on Tuesday said that they have acquired the rights for using spectrum across 22 circles in India. The rights have been acquired by the company for a sum of Rs 57123 crores. The company can use the technology-agnostic spectrum for 20 years. Digital footprint expansion in India is the main aim by the increase in spectrum footprint along with the preparation for releasing 5G according to Reliance Industries Chairman Mukesh D Ambani.
The company further stated that it is in an optimal position with a balanced spectrum for providing LTE services along with the ability to introduce 5G shortly. With the recent acquisitions, the total owned spectrum footprint grew by around 55% reaching 1717 MHz.
The company was able to acquire additional spectrum in the most cost-efficient manner at Rs 60.8 crore per MHz along with complete spectrum derisking with an average life of spectrum owned reaching 15.5 years. RJIL has been able to expand its network capacity to better serve existing uses along with the hundreds of millions of new users joining the network. The newly acquired spectrum can be used by RJIL for shifting to 5G while Jio has developed their own 5G stack.
Mukesh Ambani said that the Jio has played a significant role in the digital landscape of India with the first to adopt digital life. The company also aims to provide services to its customers along with the 300 million new users who are predicted to adopt digital services.