iDEX Signs 350th Contract for Miniaturised Satellite Development with SpacePixxel Technologies

New Delhi: Innovations for Defence Excellence (iDEX), the flagship initiative of the Ministry of Defence, achieved a milestone today by signing its 350th contract with SpacePixxel Technologies Private Limited in New Delhi.

The contract was finalized for the design and development of a miniaturised satellite capable of carrying electro-optical, infrared, synthetic aperture radar, and hyperspectral payloads up to 150 kilograms.

Anurag Bajpai, Additional Secretary of Defence Production, exchanged the contract with Awais Ahmed Nadeem Alduri, Founder and CEO of SpacePixxel Technologies, in the presence of Defence Secretary Giridhar Aramane and other senior officials of the Ministry.

Defence Secretary Giridhar Aramane highlighted the dedication of new defence innovators in advancing technology and ensuring national security. He stressed the integration of indigenization with innovation, emphasizing that domestic capabilities provide a robust foundation for experimentation and development.

Aramane noted that innovation drives indigenization by fostering the creation of new technologies and solutions that can be locally produced.

The 350th iDEX contract focuses on enhancing space electronics through miniaturisation of payloads traditionally deployed on large satellites. The modular small satellite will integrate multiple miniaturised payloads, offering advantages such as rapid deployment, cost-effectiveness, ease of manufacturing, scalability, adaptability, and reduced environmental impact.

Ranchi: The Indian Army comprises various regiments, each with a unique history, culture, and function. The concept of regimentation emerged during colonial rule when the British founded the Indian Army on regional and even caste/community lines.

After independence, the concept of regiments continued and still exists in the Army today. Now, you might ask, why are we discussing regiments out of the blue?

The reason is that the Chief Minister of Jharkhand has advocated for the establishment of a Tribal Regiment in the Indian Army.

In a meeting with Lieutenant General Ramchandra Tiwari, General Officer Commanding-in-Chief of the Eastern Command of the Indian Army, the Chief Minister expressed his desire for the formation of a Tribal Regiment. This regiment would be similar to the Jat Regiment, Bihar Regiment, Punjab Regiment, Sikh Regiment, and Madras Regiment.

He stated that the formation of a Tribal Regiment would provide a distinct identity to tribals across the country, including within the Army.

The Chief Minister highlighted that tribal youth from Jharkhand have been serving in the Indian Army for many years. He urged the army to provide more opportunities for tribal youth to advance their careers.

Lieutenant General Ramchandra Tiwari assured the Chief Minister that the army, through its local GOC, would offer training and other support to prepare tribals for army recruitment.

New Delhi: The benchmark Sensex breached the historic 78,000 level for the first time while the Nifty settled at a new record high on Tuesday, driven by buying in blue-chip bank stocks and Reliance Industries amid firm trends in Asian markets.

The 30-share BSE Sensex surged 712.44 points, or 0.92 percent, to settle at a new closing peak of 78,053.52. During the day, the benchmark soared 823.63 points, or 1 percent, to hit a fresh lifetime high of 78,164.71.

The Nifty climbed 183.45 points, or 0.78 percent, to settle at a record closing peak of 23,721.30. During the day, it rose 216.3 points, or 0.91 percent, to reach a new all-time high of 23,754.15.

Among the 30 Sensex companies, Axis Bank, ICICI Bank, HDFC Bank, Tech Mahindra, Larsen & Toubro, Bajaj Finserv, State Bank of India, Reliance Industries, and Infosys were the biggest gainers.

Conversely, Power Grid, Asian Paints, Tata Steel, Nestle, Maruti, and JSW Steel were among the laggards.

In Asian markets, Seoul, Tokyo, and Hong Kong closed higher, while Shanghai ended lower. European markets were trading in negative territory, and US markets ended on a mixed note on Monday.

India recorded a current account surplus of USD 5.7 billion, or 0.6 percent of GDP, in the March quarter, the Reserve Bank of India announced on Monday. This marks the first time in ten quarters that the country's current account has turned into a surplus.

"A positive development from the market perspective is the current account turning surplus in Q4 FY'24. This will alleviate pressure on the rupee and pave the way for FII inflows once there is clarity on the Fed rate cuts," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Global oil benchmark Brent crude declined 0.44 percent to USD 85.63 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 653.97 crore on Monday, according to exchange data.

On the previous trading day, the BSE benchmark ended 131.18 points, or 0.17 percent higher, at 77,341.08. The Nifty rose 36.75 points, or 0.16 percent, to settle at 23,537.85.

New Delhi: The Adani Group plans to invest approximately Rs 2 lakh crore by 2030 to develop 40 gigawatts (GW) of renewable energy generation capacity, targeting net zero emissions across its businesses by 2050, top officials announced on Tuesday.

The conglomerate, which currently has over 10 GW of renewable energy capacity from sources such as solar and wind, aims to add 6-7 GW annually to reach a total of 50 GW by 2030.

"Considering a ballpark figure of Rs 5 crore per megawatt, the investment could amount to Rs 2 lakh crore by 2030," stated Sagar Adani, Executive Director of Adani Green Energy Ltd (AGEL), during a press briefing.

AGEL CEO Amit Singh mentioned that the company would also establish a 5 GW pumped storage capacity to meet peak power demand during nighttime when solar and wind energy generation is low. The carbon credits from renewable capacity, along with other measures, will help the group achieve net zero emissions by 2050.

In the fiscal year 2023-2024, AGEL added 2.8 GW of capacity, accounting for 15 percent of India's total renewable energy capacity addition, Singh said. "This year, our target is 6 GW," he added.

Looking ahead, similar or higher annual capacity additions are expected, Adani noted, specifying that 80 percent of the 50 GW capacity will be solar, with the remaining 20 percent from wind energy.

The conglomerate is also building factories to produce wafers for solar panels and wind turbines. Singh highlighted that the group is now focusing on manufacturing 3 MW wind turbines for areas with lower wind speeds. Currently, it produces 5.2 MW wind turbines suitable for high-potential regions like Khavada in Gujarat.

India, the world's third-largest economy in terms of energy needs, is projected to see a 25-35 percent surge in energy demand by 2030, with peak energy demand estimated to reach 366.4 GW by 2031-32.

AGEL recently completed a greenfield expansion, adding 2,848 MW (2.8 GW) of renewable capacity, including 2,418 MW of solar and 430 MW of wind projects. This expansion included 2,000 MW of solar capacity from the world's largest renewable energy project, a 30,000 MW facility in Khavada, Gujarat, spanning 538 square kilometers.

AGEL aims to add at least 5,000 MW of pumped storage project (PSP) capacity by 2030, starting with a 500 MW PSP in Andhra Pradesh. The company has a robust pipeline of hydro-pumped storage projects across Andhra Pradesh, Maharashtra, Tamil Nadu, and Telangana.

AGEL’s current operational portfolio stands at 10,934 MW, comprising 7,393 MW solar, 1,401 MW wind, and 2,140 MW wind-solar hybrid capacity. It is the first company in India to surpass 10,000 MW in renewable energy capacity. Over the past five years, AGEL's operational capacity has grown at a CAGR of 41 percent, compared to India's 13 percent.

AGEL’s total locked-in portfolio is 21,953 MW, with 10,934 MW operational and 11,019 MW under execution. Approximately 93 percent of AGEL’s portfolio, or 20,368 MW, is backed by 25-year fixed tariff PPAs with sovereign/sovereign equivalent counterparties, providing revenue predictability. The remaining 7 percent is a merchant portfolio, offering higher realizations.

New Delhi: State-owned Punjab & Sind Bank has signed an initial agreement with the Indian Army for a defence salary package that comes with a host of facilities, including free insurance cover.

A memorandum of understanding (MoU) has been signed to this effect.

In addition to many features, the MoU provides serving personnel, veterans, and trainees with personal accident insurance (Death/Disability) cover up to ?1 crore and an air accidental cover of ?1.2 crore.

"PSB Gaurav Bachat SB Salary account is exclusively designed to cater to the distinct banking requirements of serving and retired personnel. The product is also strategically aimed to tap Agniveers enrolled in the Agnipath scheme, ensuring a comprehensive financial solution that aligns with the distinctive needs of this segment," said Punjab & Sind Bank MD and CEO Swarup Kumar Saha.

Through this product, the bank has also acknowledged the sacrifice of Veer Naari (spouse of a martyr) by providing them with all the benefits similar to pensioners, he added.

On the 117th Foundation Day of the bank, celebrated on Monday, Saha announced the introduction of the PSB Pink debit card powered by RuPay for women, which comes with a host of benefits.

The bank also commenced demat services through its wealth-tech partner Fisdom, allowing customers to make investments in the equity market and purchase mutual funds.

Additionally, the Delhi-based lender signed an MoU with Maruti Suzuki India for vehicle loans through their Digital Lending Platform 'Maruti Suzuki Smart Finance,' and an agreement with IIM Amritsar to promote academic research and industry interactions.

The bank launched a series of customer-centric digital offerings through its omnichannel PSB UNiC App, designed to ensure secure and hassle-free banking services.

Some of the offerings include opening savings accounts through video KYC, Bulk NEFT/RTGS, access to free CIC credit scores, and UNiC App registration through Aadhaar OTP.

These new product initiatives, Saha stated, are a testament to the bank's dedication to making a positive societal impact and creating a more sustainable future for all.

New Delhi: Union Minister Nitin Gadkari on Tuesday suggested that the construction of highways under the Hybrid Annuity Model (HAM) could be made more flexible and market-driven to ensure timely completion.

Currently, under HAM, the government provides 40 percent of the project cost to developers to start work, while the remaining investments are made by the developers.

"I believe that infrastructure should be developed by the contractors," Gadkari said while speaking at an event here.

The road transport and highways minister explained that under HAM, 40 percent of the project cost is provided by the government and the remaining by the contractor.

"Why should the government always provide 40 percent even if the contractor is willing to invest more than 60 percent of the project? What is needed is completion, and the proposals should be market-driven," he added.

Gadkari also noted that total toll collection in India would rise by at least ?10,000 crore after implementing the Global Navigation Satellite System (GNSS)-based electronic toll collection.

Total toll collection in India reached ?64,809.86 crore in 2023-24, marking a 35 percent increase over the previous year, surpassing government and industry estimates as commercial traffic surged.

Earlier this month, state-owned NHAI invited expressions of interest from around the world for implementing GNSS-based electronic toll collection to provide a seamless and barrier-free tolling experience on National Highways.

The move aims to eliminate physical toll booths on highways.

NHAI plans to implement the GNSS-based electronic toll collection (ETC) system within the existing FASTag ecosystem, initially using a hybrid model where both RFID-based ETC and GNSS-based ETC will operate simultaneously.

Gadkari also suggested that state transport buses should be exempted from paying tolls on highways.

New Delhi: Telecom operators expressed interest in four spectrum bands -- 900 MHz, 1,800 MHz, 2,100 MHz, and 2,500 MHz -- as the auction entered its fourth round around 3 PM on Tuesday, sources said.

The spectrum auction for over 10,500 MHz of mobile services worth over ?96,238 crore began at 10 AM, an official statement reported.

"There was activity in four spectrum rounds initially -- 900 MHz, 1,800 MHz, 2,100 MHz, and 2,500 MHz bands. The spectrum auction entered the fourth round around 3 PM," a source told PTI.

This is the 10th spectrum auction since the process for selling radio waves started through an online bidding process in 2010. The last spectrum auction was held in August 2022, which, for the first time, included radio waves for 5G services.

The Department of Telecommunications (DoT) initiated the spectrum auction, issuing a notice inviting applications on March 8.

"The Ministry of Communications announced that the following spectrum bands will be up for bidding in the upcoming auction -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz.

"Total quantum of spectrum being auctioned is 10,522.35 MHz across various bands, valued at ?96,238.45 crores at reserve prices," the statement said.

The 3,300 MHz band and 26 MHz band are seen as suitable bands for 5G services.

Reliance Jio has deposited the highest earnest money of ?3,000 crore for the auction, providing the company with the potential to bid for maximum radio waves.

According to pre-qualified bidder details released by the Department of Telecommunications, Bharti Airtel has submitted an earnest money deposit (EMD) of ?1,050 crore, while Vodafone Idea (VIL) has deposited ?300 crore.

Telecom industry body Cellular Operators' Association of India Director General SP Kochhar said the 5G auctions would catalyze the rapid rollout of 5G services across the country, leading to enhanced coverage and vastly improved connectivity.

"By bridging the digital divide, the 5G spectrum auctions will ensure that even the most remote areas of our country gain access to high-speed internet, thereby fostering greater economic opportunities and social advancement.

"The auctions also symbolize our commitment to 'Viksit Bharat,' and we are confident that the outcomes of these auctions will lay a strong foundation for a prosperous and digitally empowered India," Kochhar said.

According to telecom expert Parag Kar, Reliance Jio can bid for 37.36 percent of the total spectrum value based on EMD, Bharti for 13.07 percent, and Vodafone Idea for 3.73 percent.

As per Kar's analysis, Jio may be keen on bidding for the 800 MHz band only, which could lead to an estimated cash outflow of ?18,000 crore.

"Bharti's targeted approach in the upcoming auction is aimed at consolidating and enhancing its spectrum efficiency. The total outflow for Bharti will be ?11,512 crore at the reserve price," Kar stated in his blog.

Debt-ridden Vodafone Idea (VIL) is likely to focus on strategic acquisitions, particularly in the 26 GHz band, to reduce its spectrum usage charges.

New Delhi: The Bureau of Indian Standards (BIS) has signed a Memorandum of Understanding (MoU) with Balmer Lawrie & Co. Ltd. at BIS HQ Manak Bhawan in New Delhi for the arrangement of various non-ticketing services throughout the year on a Pan-India basis. Under this MoU, Balmer Lawrie will manage various programs, events, workshops, seminars, and exposure visits to be organized at different locations across India for various BIS offices.

Balmer Lawrie will handle all requirements, including booking meeting venues, hotel accommodations, travel arrangements, local transport, food arrangements, venue management (such as audio-video arrangements, reception management, and registration desk), banners and standees, emcees, video conferencing facilities, printing materials, fabrication and stall/stage and hall setup, and organizing cultural programs including artists and obtaining necessary licenses/approvals for BIS Branch Offices, Regional Offices, Departments at HQs, Training Institutes, and HQ of BIS.

The MoU was signed by BIS's Director General Pramod Kumar Tiwari (IAS) and Balmer Lawrie's Director (Service Business) Adhip Nath Pal Chaudhuri in the presence of senior officials from both organizations. From BIS, Lt. Col Kumar Shantanu, DDG (Administration), and Neha Singhal, Deputy Director (General Services), and from Balmer Lawrie, Ashok K. Gupta, COO (Travel), and Neerav Gupta, National Head (Sales & Business Development), were present at the MoU signing ceremony.

New Delhi: India's nuclear power generation capacity is set to increase by around 70 percent in the next five years, announced Union Minister for the Department of Atomic Energy Dr. Jitendra Singh during a high-level meeting to review the 100-day Action Plan of the Department of Atomic Energy on Tuesday. This was the first atomic energy-related meeting convened by Dr. Singh after he reassumed charge as minister in the Modi government 3.0.

"The installed nuclear power capacity of 7.48 GWe will increase to 13.08 GWe by 2029, representing over a 70 percent increase with the addition of seven new reactors," stated Dr. Singh. He also reviewed the operational projects and provided directions for future plans.

Indigenous Technology Development for Nuclear Power a Priority

Emphasizing the need for indigenous technology, Dr. Jitendra Singh directed the department to integrate and collaborate to harness full potential through capacity building and sharing of knowledge, resources, and expertise. He stressed that "indigenous technology development and promoting energy security should be our priority." He recalled that the government has facilitated joint ventures with public sector units, increased the budget through collaboration, utilized next-generation technologies, and enhanced cooperation. Speaking on simplifying research and scaling up activities, he mentioned that the government is providing single-point approval to promote the ease of science and improve the quality of life for citizens through nuclear technology applications.

Dr. Singh informed that the department is designing the 220 MW Pressurized Heavy Water Reactor (PHWR) to use a Bharat Small Reactor (BSR) for captive nuclear power generation. He also mentioned that the Department of Atomic Energy is working on the 220 MW Bharat Small Modular Reactor (BSMR) to utilize light water-based reactors by replacing the Calandria with a pressure vessel.

BHAVINI to Complete Initial Fuel Loading of Prototype Fast Breeder Reactor

According to Dr. Singh, BHAVINI, a public sector undertaking, is in the process of completing the initial fuel loading of the Prototype Fast Breeder Reactor, with its first approach to criticality expected in the coming months. This reactor is the first fast breeder reactor designed to produce more fuel than it consumes.

The minister highlighted that along with energy security, health and food security, radiopharmaceuticals and nuclear medicine, agriculture, and food preservation should also be focus areas. Dr. Ajit Kumar Mohanty, Chairman of the Atomic Energy Commission and Secretary of the Department of Atomic Energy, along with senior officials of the department, attended the review meeting.

New Delhi: State-owned power giant NTPC Limited announced on Tuesday that its board will meet on June 29 to consider a proposal to raise up to ?12,000 crore through the issuance of bonds.

The board of directors is scheduled to meet in New Delhi on Saturday, June 29, to consider issuing "secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures up to ?12,000 crore," subject to shareholder approval at the upcoming Annual General Meeting, according to a BSE filing.

NTPC is one of India's leading power-generating companies. The total income of the NTPC group for FY'24 was ?1,81,166 crore, compared to ?1,77,977 crore in the previous year. The profit after tax (PAT) of the group for FY'24 was ?21,332 crore, up from ?17,121 crore the previous year, marking an increase of almost 25%.

In a recent conference call with analysts, the company highlighted various capital expenditure projects, including ongoing projects and new capacity addition programs such as Flue Gas Desulphurisation (FGD) projects and renewable energy initiatives, including hydro-based projects.

In FY'24, the NTPC group incurred a capex of ?34,943 crore, compared to ?35,204 crore in the previous year.

Raipur-based Vraj Iron and Steel Ltd. is set to raise ?171 crore through its initial public offering (IPO), opening for public subscription on Wednesday, June 26. The three-day initial share sale will conclude on Friday, June 28, with bidding for anchor investors starting later today.

The company's shares are currently trading at a premium of ?53 in the grey market, an unofficial platform where shares begin trading before the IPO allotment and continue until the listing day. Investors often monitor the Grey Market Premium (GMP) to gauge the potential listing price.

The IPO consists solely of a fresh issue with no offer-for-sale component. Shares will be sold in the range of ?195 to ?207 per share, with investors able to bid for a minimum of 72 equity shares per lot and in multiples thereof.

Proceeds from the IPO will be utilized for the expansion project at the Bilaspur facility and for general corporate purposes. Vraj Iron and Steel, engaged in the manufacturing of sponge iron, MS billets, and TMT bars, operates two manufacturing plants in Raipur and Bilaspur, Chhattisgarh.

Following the expansion, the company anticipates increasing its aggregate installed capacity from 231,600 tonnes per annum (TPA) to 500,100 TPA, and its captive power plants’ capacity from 5 MW to 20 MW.

For the fiscal year ending March FY23, Vraj Iron and Steel reported a substantial 88% year-on-year growth in net profit at ?54 crore, driven by robust operating performance. Revenue from operations rose by 24.5% to ?515.7 crore compared to the previous year.

Aryaman Financial Services is the sole book-running lead manager for the IPO, with Bigshare Services as the registrar. The equity shares of Vraj Iron and Steel are proposed to be listed on both the NSE and the BSE.

New Delhi: India and Qatar Discuss Proposal for Mirage 2000 Fighter Jets

India and Qatar have engaged in discussions regarding the potential purchase of 12 pre-owned French Mirage 2000 fighter jets for the Indian Air Force (IAF). Reports indicate these jets are in good condition, with approximately 30% of their airframe life remaining.

The IAF currently operates Mirage 2000 jets acquired from France in the mid-to-late 1980s. These aircraft played pivotal roles in operations such as the Kargil War, where they successfully targeted Pakistani logistics hubs using laser-guided bombs, and in the Balakot air strikes, which targeted Lashkar-e-Taiba’s training center in Khyber Pakhtunkhwa.

The engines of the Qatari jets are identical to those used in the IAF's Mirage fleet, simplifying maintenance procedures. The proposed price for the 12 jets is Rs 5,000 crore, considered relatively high by experts—nearly equivalent to the cost of a new Tejas Mk-1A fighter jet, albeit lacking the advanced features of the Tejas.

These Mirage 2000 jets are reportedly of the Dash 1 upgrade variant, differing from the IAF’s Dash-2 versions, placing them at a lower operational level compared to the IAF's current fleet. However, Qatar has sweetened the deal by including Mica air-to-air missiles with the jets.

Previously, the IAF acquired some French Mirage 2000 jets for spare parts. Additionally, Greece has also offered 18 Mirage 2000 jets, similarly in good condition and capable of operational missions.

New Delhi: Gautam Adani Affirms Adani Group's Strength Amid Challenges

Billionaire Gautam Adani highlighted record earnings, robust cash positions, and the lowest debt ratios to assert that his ports-to-energy conglomerate is stronger than ever and poised for future growth. Speaking at the annual shareholders meeting of Adani Enterprises Ltd, India's second richest individual reflected on the unprecedented crisis faced by the conglomerate last year due to baseless accusations by a US short seller.

"We confronted groundless allegations that questioned decades of our hard work. Despite this unprecedented attack on our integrity, we proved that no challenge could weaken the foundations of our Group," said Adani, who celebrated his 62nd birthday on Monday.

Hindenburg Research accused the Adani Group of stock manipulation, accounting fraud, inflating valuations, and creating a complex network of shell companies, leading to a substantial drop in market values.

Adani Group denied all allegations but acknowledged the impact on market values, especially during the Rs 20,000 crore follow-on public offer in January 2023. Despite the challenges, the Group strategically raised Rs 40,000 crore to cover upcoming debt repayments, prepaid Rs 17,500 crore of margin-linked financing, reduced debt, and focused on business improvement.

"This approach not only strengthened our financial resilience but also positioned us for future expansion," Adani emphasized. "The headwinds we faced became catalysts for our strength."

He showcased ambitious projects such as the 30 GW renewable energy park in Gujarat's Khavda desert, slated to power nations like Belgium and Switzerland, alongside initiatives like Dharavi redevelopment and the development of Drishti 10 Starliner UAV for border protection.

"In 2023-24, we achieved record financial milestones with our highest EBITDA of Rs 82,917 crore (approx. USD 10 billion), a surge of 45 percent. Net profit soared to a record high of Rs 40,129 crore, while our net debt to EBITDA ratio improved from 3.3x to 2.2x," he added, highlighting an all-time-high liquidity of Rs 59,791 crore.

"With record results, robust cash positions, and historic low debt ratios, we are primed for greater achievements ahead," Adani affirmed. "The possibilities are vast. We are stronger than ever, and our best is yet to come."

In a world grappling with geopolitical tensions and climate change, Adani emphasized India's rise, stating, "This is India's moment. We stand on the brink of our greatest growth phase, poised to become the world's third-largest economy by the decade's end."

New Delhi: Financial Services Institutions Bureau (FSIB) to conduct interviews for the selection of State Bank of India (SBI) Chairman

Financial Services Institutions Bureau (FSIB), responsible for appointing directors of state-owned banks and financial institutions, is set to conduct interviews to appoint a new Chairman for State Bank of India (SBI).

Last month, the interview process was unexpectedly postponed without citing a specific reason.

Sources indicate that three out of four serving Managing Directors of SBI are eligible to participate in the interview scheduled for June 29. The fourth MD, Alok Kumar Choudhary, is retiring on June 30 and hence ineligible.

FSIB aims to select a successor for Dinesh Kumar Khara, who will retire on August 28 upon reaching the upper age limit of 63 for the SBI Chairman's position. Traditionally, the Chairman is appointed from the pool of serving Managing Directors of SBI. FSIB will recommend a candidate, with the final decision resting with the Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi.

FSIB, led by Bhanu Pratap Sharma, former Secretary of the Department of Personnel and Training (DoPT), oversees the selection process. The selection panel comprises the Financial Services Secretary, Secretary of the Department of Public Enterprises, and a Deputy Governor of the Reserve Bank of India (RBI).

Other members of FSIB include Animesh Chauhan, former Chairman and MD of Oriental Bank of Commerce, Deepak Singhal, ex-Executive Director of RBI, and Shailendra Bhandari, former MD of ING Vysya Bank.

New Delhi: Spectrum worth over Rs 96,000 crore set for auction across eight bands starting Tuesday, with telecom giants Reliance Jio, Bharti Airtel, and Vodafone Idea vying for crucial 5G mobile services spectrum.

The upcoming auction marks the first since August 2022 and includes spectrum in bands vital for advancing 5G technology.

A total of eight spectrum bands, including 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz, will be auctioned with a base price of approximately Rs 96,317 crore.

"We applaud the government's decision to auction spectrum across these critical bands. However, it's crucial that spectrum in the 600 MHz and 1400 MHz bands is also auctioned soon, given their significance to the mobile industry," remarked Bharat Bhatia, President of ITU-APT Foundation of India.

Reliance Jio leads with an earnest money deposit of Rs 3,000 crore, positioning it to potentially bid for the maximum spectrum. Bharti Airtel and Vodafone Idea have deposited Rs 1,050 crore and Rs 300 crore respectively.

Telecom analyst Parag Kar estimates that based on the earnest money deposit, Reliance Jio can bid for 37.36% of the total spectrum value, while Bharti Airtel and Vodafone Idea can bid for 13.07% and 3.73% respectively.

"Jio's strategy may focus on the 800 MHz band, targeting an estimated cash flow of Rs 18,000 crore," Kar noted in his analysis.

He further added, "Bharti Airtel aims to consolidate its spectrum efficiency with an expected outflow of Rs 11,512 crore at the Reserve Price."

Strategically, debt-laden Vodafone Idea (VIL) is anticipated to pursue acquisitions, particularly in the 26 GHz band, to optimize its spectrum usage charge.

Market insights from IndusLaw Partner Shreya Suri suggest that Airtel is prioritizing additional 5G coverage sites, while Vodafone may reduce coverage in certain circles and opt against renewing some spectrum.

The spectrum auction is anticipated to witness selective bidding, particularly in bands like 3300 MHz, crucial for 5G deployment with low capital expenditure requirements.