Reliance Jio and Airtel's Net Worth Rises Ahead of 5G Auction By CIOTechOutlook Team

Reliance Jio and Airtel's Net Worth Rises Ahead of 5G Auction

CIOTechOutlook Team | Saturday, 11 May 2024, 02:11 IST

The net worth of leading telecom firms Reliance Jio and Bharti Airtel has increased dramatically since the previous spectrum auction in August 2022, while Vodafone Idea's negative net worth has increased due to ongoing financial difficulties.

In the forthcoming auction, which begins on June 6, three private telecom operators will compete for Rs 96,317.65 crore in 5G airwaves.

Reliance Jio's net value at the end of March 31, 2023, according to company filings with the Department of Telecommunications (DoT), was Rs 2,15,992 crore. In the previous auction, the wholly owned subsidiary of Jio Platforms had a net worth of Rs 1,97,790 crore. Similarly, Airtel's net value increased to Rs 86,260 crore as of December 31, 2023, from Rs 75,886 crore in the previous auction.

Vodafone Idea's net value as of December 31, 2023 was -Rs 1,16,886 crore. The company has also disclosed its data as of March 31, 2023, which show a negative net value of Rs 93,320 crore. Vodafone Idea's net worth was minus Rs 80,918 crore at the previous auction.

Vodafone Idea's largest shareholder is the Government of India, which owns 24.27%. Vodafone Group and Aditya Birla Group are the company's promoters, with a 36.87% interest. The DoT requires all companies participating in the auction to disclose ownership and net worth statistics.