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Adani Enterprises’ arm Adani Data Networks Ltd. has applied for participation in the upcoming spectrum auctions, the department of telecommunications said in a notice. The department added that Bharti Airtel, Reliance Jio and Vodafone Idea were the other participants taking the total to four companies.
According to ownership details issued by the department, Adani Data Networks has a net worth of ₹248.35 crore, while the parent Adani Enterprises has a net worth of ₹4730.66.
The details showed that Adani Data Networks Ltd. has been issued a letter of intent on June 28, 2022 by the department for grant of unified license with authorisation of national long distance and international long distance for pan-India service, and internet service provider for the Gujarat circle.
As per declaration provided by Adani Group about the company applying for airwaves, it has indicated that Adani Enterprises Limited’s net worth should be taken into consideration towards counting the eligibility for bidding for spectrum auction.
The other participating bidders – Airtel, Jio and VodaIdea – have disclosed the ownership details to the department as per which Bharti Airtel’s net worth was ₹75,886.8 crore while the paid up capital is ₹2,795 crore as on March 31, 2022.
Reliance Jio Infocomm has informed its net worth as on March 31 to be ₹1.97 trillion and paid up capital of ₹1.54 trillion.
Vodafone Idea said in its declaration to the department that it had a negative net worth of ₹80,918 crore as on March 31, 2022 with paid up capital of ₹32,119 crore.
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