New Delhi: Gautam Adani, one of the richest men in Asia, is all set to enter the telecom sector. The Adani Group has come up with a new plan to dominate the telecom sector. According to reports, the company will participate in the auction of 5G spectrum later this month and has also applied for the same. Adani Group will directly compete with Mukesh Ambani’s Reliance Jio and Sunil Bharti Mittal’s Airtel.
At least 4 people have applied to participate in the auction of In Airwave, which is capable of providing high-speed internet for 5G telecom services. The Adani Group took part in it on July 8. The auction will take place on July 26. In addition, Geo, Airtel and Vodafone Idea have also applied. According to reports, Adani Group is the fourth company to apply after these three telecom companies. The company received its license for NLD and ILD a few days ago. However, no official information has been released by the company yet.
Also, the details of ownership of the applicants will be published on July 12. The auction of 5G spectrum will start on July 26, 2022. During this period, 72,097.85 MHz of spectrum worth at least Rs 4.3 lakh crore will be auctioned. Meanwhile, after Adani’s entry into the telecom sector, Reliance Jio is likely to face a tough fight. Geo, owned by Mukesh Ambani, has made its mark in the Indian market a few years back. The two have yet to see a direct collision from business. Ambani’s business is oil, petrochemical. Is in the telecom and retail sectors. Adani Group is active in the field of port, coal, electricity distribution, etc. However, these companies are now likely to come to the fore in the telecom sector.