The freebies are now over, but Jio will need to notch up subscriber numbers and margins to prove its sceptics wrong.
Spectrum was sold at about 68 per cent premium.
Ambani's $15 bn bet will upend Indian telecom
While it was technically not possible to block the deal, the tax department could resort to arm-twisting.
While Indians are increasingly using mobile platforms and technology for various financial transactions and purchases like bill payments, ticket bookings, entertainment, travel and banking transactions, cross border mobile remittance is yet to see the light of the day.
A liberalised spectrum allows operators to use any technology to deliver services like 3G and 4G.
Jio's disruptive strategy, including free voice services and data at throwaway rates, apart from offering all services free for six months, triggered a consolidation in the telecom sector.
The lack of bandwidth and content means it will be a long time before online streaming services take off in India.
Spectrum auction took off on Wednesday from Rs 58,980.29 crore (Rs 589.80 billion) mark with demand for the premium 900 Mhz band seemingly tapering off at the end of 56 rounds.
The company will wait for sizeable user base for better valuation.
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
Over 1,42,000 people have been rescued from the flood-ravaged parts of Jammu and Kashmir so far, as the relief operations launched by the Armed forces entered the 12th day on Saturday.
Transcript of Nikhil Pahwa's chat with Rediff readers.
As debt piles up, Anil Ambani's ability to see the asset sale plan through will be crucial
Telecom companies that bought spectrum in the 2G auction of November last year would lose around Rs 4,000 crore
'All businesses have to be run for business, for profits on a sustainable basis. It may sound old school, but then I have been in business for 32 years and you can't change an old tiger's stripes.'
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