Some of India’s wealthiest businessmen are being drawn into the fight for the fifth-generation airwaves, and billionaires like Mukesh Ambani and Gautam Adani are expected to join a host of other players in offering up to $14 billion for the frequency rights that could determine who rules the digital era.

Reliance Jio Infocomm Ltd., owned by Mukesh Ambani, has made the highest pre-auction deposit, indicating that it will likely be the most aggressive bidder in the sale that begins today. However, Adani Data Networks Ltd., a surprise entrant, will be the one whose bids are closely watched as competitors attempt to map out its telecom ambitions.