Telecom major Reliance Jio on Tuesday signed an agreement with rival Bharti Airtel for the right to use spectrum in the 800 MHz band in Delhi, Mumbai and Andhra Pradesh circles.

The agreement will enhance Jio's network capacity in these circles. Through the agreement -- which is subject to statutory approvals -- Jio will buy spectrum for Rs 1,497 crore and assume liabilities of Rs 459 crore.

"The aggregate value for the right to use this spectrum is Rs 1,497 crores, inclusive of the present value of associated deferred payment liability of Rs 459 crores, subject to any transaction related adjustments," Reliance Jio said on Tuesday.

"The trading agreement is in accordance with the Spectrum Trading Guidelines issued by the Department of Telecommunications and is subject to the requisite regulatory and statutory approvals," it added.

In the spectrum auction held early in March, Jio had acquired the maximum spectrum, i.e. 488.35 MHz across three circles, for Rs 57,122.65 crore in the latest round of auction. In the same auction, Bharti Airtel had acquired 355.45 MHz spectrum across Sub-GHz, mid-band and 2300 MHz bands, for Rs 18,699 crore and Vodafone Idea spent Rs 1993.40 crore for 11.8 MHz spectrum across five circles.

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