Bharti Airtel’s strategic move to acquire 400 MHz of spectrum in the 26 GHz band from Adani Data Networks marks a key development in India’s fast-evolving telecom landscape. This acquisition strengthens Airtel’s 5G rollout plans while signalling Adani Group’s exit from spectrum-based telecom services. Spread across six major telecom circles, the deal highlights Airtel’s focus on capacity expansion, high-speed connectivity, and enterprise-grade solutions. As one of India’s leading telecom providers, Airtel is reinforcing its position amidst intensifying competition and rising data demands. Meanwhile, the financial structuring of the deal adheres to India’s Spectrum Trading Guidelines and awaits regulatory clearances. This development is not just a transfer of airwaves—it reflects wider market trends, operator priorities, and shifting strategies across India’s digital communications ecosystem.
Acquisition details
In April 2025, Bharti Airtel Limited and its subsidiary, Bharti Hexacom Limited, entered into definitive agreements with Adani Data Networks Limited (ADNL), a subsidiary of Adani Enterprises, to acquire rights to use 400 MHz of spectrum in the 26 GHz band. This spectrum spans six key telecom circles: Gujarat (100 MHz), Mumbai (100 MHz), Andhra Pradesh (50 MHz), Rajasthan (50 MHz), Karnataka (50 MHz), and Tamil Nadu (50 MHz) . The acquisition aligns with Airtel's strategy to bolster its 5G infrastructure and expand its service offerings across India. The deal is structured under India's Spectrum Trading Guidelines and is subject to standard regulatory approvals before final implementation.
Spectrum allocation across six telecom circles
The 400 MHz spectrum acquired by Airtel is distributed across six telecom circles, enhancing its 5G capabilities in these regions. The allocation includes 100 MHz each in Gujarat and Mumbai, and 50 MHz each in Andhra Pradesh, Rajasthan, Karnataka, and Tamil Nadu. This strategic distribution enables Airtel to strengthen its network coverage and capacity, ensuring better service quality and lower latency for its customers in these key markets.
Financial terms and regulatory approvals
Adani Data Networks had initially acquired the 400 MHz spectrum in the 26 GHz band for approximately Rs. 212 crore during the 2022 spectrum auction. While the exact financial terms of the acquisition by Airtel have not been disclosed, the deal is structured under India's Spectrum Trading Guidelines and awaits standard regulatory approvals before final implementation. Upon approval, Airtel plans to utilise this high-frequency spectrum to optimise enterprise solutions, consumer broadband, and industrial applications.
Strategic implications
The acquisition of the 400 MHz spectrum from Adani Data Networks has significant strategic implications for both Airtel and the Indian telecom industry. For Airtel, this move strengthens its position in the 5G market, allowing it to enhance its service offerings and meet the growing demand for high-speed connectivity. The additional spectrum will enable Airtel to provide improved network coverage, increased capacity, and lower latency, thereby enhancing the overall customer experience. Furthermore, this acquisition underscores Airtel's commitment to expanding its 5G infrastructure and maintaining its competitive edge in the rapidly evolving telecom landscape.
Enhancing Airtel's 5G network capacity
The acquisition of the 400 MHz spectrum in the 26 GHz band significantly enhances Airtel's 5G network capacity. This high-frequency spectrum is ideal for delivering ultra-fast data speeds and low latency, which are essential for advanced applications such as IoT, AI, and real-time analytics. By integrating this spectrum into its existing network, Airtel can offer superior 5G services to its customers, catering to both consumer and enterprise needs. This move positions Airtel to effectively meet the increasing demand for high-speed connectivity and maintain its leadership in the 5G space.
Adani's exit from telecom spectrum sector
Adani Data Networks' decision to transfer its entire 400 MHz spectrum to Airtel marks its exit from the telecom spectrum sector. Initially, Adani had acquired the spectrum for captive use to support its infrastructure businesses. However, the company faced challenges in meeting the rollout obligations mandated by the Department of Telecommunications, which require a minimum number of network sites to be active within a specified timeframe. By transferring the spectrum to Airtel, Adani avoids potential penalties and shifts its focus back to its core infrastructure operations.
Market reactions
The announcement of Airtel's acquisition of the 400 MHz spectrum from Adani Data Networks has elicited varied reactions from the market. Investors and industry stakeholders view this move as a strategic step for Airtel to strengthen its 5G capabilities and expand its market share. The acquisition is expected to enhance Airtel's service offerings and improve customer satisfaction, thereby positively impacting its financial performance. However, the market also awaits the completion of regulatory approvals and the successful integration of the new spectrum into Airtel's existing network infrastructure.
Stock market response to the acquisition
Following the announcement of the spectrum acquisition, Bharti Airtel's stock experienced a slight decline, closing at Rs. 1,852, down by 1.68%. Despite this immediate reaction, the stock has shown a 16.04% increase in the calendar year, reflecting investor confidence in Airtel's long-term growth prospects. The market anticipates that the acquisition will bolster Airtel's 5G offerings and contribute to its competitive positioning in the telecom sector.
Industry analysts' perspectives
Industry analysts view Airtel's acquisition of the 400 MHz spectrum as a strategic move to enhance its 5G capabilities and maintain its competitive edge. The additional spectrum is expected to enable Airtel to offer superior 5G services, catering to the growing demand for high-speed connectivity among consumers and enterprises. Analysts also note that Adani's exit from the telecom spectrum sector allows Airtel to consolidate its position and focus on expanding its network infrastructure. Overall, the acquisition is seen as a positive development for Airtel and the Indian telecom industry.
Conclusion
Airtel’s acquisition of Adani Data Networks’ entire 400 MHz spectrum is more than just a corporate transaction—it’s a reflection of long-term vision and strategic realignment. For Airtel, it means stronger 5G performance, improved service delivery, and the ability to meet increasing user demand for ultra-fast data. For Adani, the move represents a tactical withdrawal from telecom spectrum commitments to refocus on its core infrastructure strengths. As the regulatory process moves forward, the deal has already impacted market sentiment and drawn sharp analysis from telecom experts. In a competitive sector where every MHz matters, this spectrum transfer highlights the importance of timely execution, scale, and readiness to adapt. With India’s digital future being shaped by such moves, this acquisition sets the stage for faster, broader, and more efficient connectivity for millions.
