June spectrum auction: Jio likely to spend Rs 12,000 cr, Airtel Rs 8,000 cr

Reliance Jio is expected to allocate up to Rs 12,000 crore for spectrum acquisition in the upcoming auction, while Bharti Airtel’s projected expenditure is anticipated to be less than Rs 8,000 crore, according to a report in the Financial Express.

Vodafone Idea, on the other hand, is predicted to invest around Rs 1,000 crore. The spectrum auctions are slated to commence on June 6.

Jio to lead auction this year

Jio is expected to take the lead in the auction once again, with plans to bolster its spectrum portfolio, particularly in the 800 MHz band across certain circles.