5G auction underway, at least Rs 4.3 lakh crore for bid with top 4 companies
Fifth Generation or 5G would enable solutions such as e-health, connected vehicles, more-immersive augmented reality and metaverse experiences, life-saving use cases, and advanced mobile cloud gaming, among others.
FollowThe first auction of 5G spectrum in India is under underway, with a total of 72 GHz (gigahertz) of wireless signals valued at least Rs 4.3 lakh crore up for grabs. Reliance Jio, Sunil Mittal's Bharti Airtel, Vodafone Idea, and a unit of billionaire Gautam Adani's flagship Adani Enterprises are competing for 5G spectrum, which offers speeds up to ten times faster than 4G, lag-free connectivity, and the ability for billions of connected devices to share data in real-time.
Fifth Generation or 5G would enable solutions such as e-health, connected vehicles, more-immersive augmented reality and metaverse experiences, life-saving use cases, and advanced mobile cloud gaming, among others.
If there is a demand for spectrum and bidders are submitting offers, the bidding that began at 1000 hrs will continue until 1800 hrs and will spill over into the following day. The length of the auction will be determined by the actual demand for radiowaves and the strategy of individual bidders, although the industry opinion is that it might continue up to two days.
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According to official Department of Telecom estimates, the 5G auction sweep up will cost between Rs 70,000 and Rs 1,00,000 crore. Reliance Jio has made the biggest earnest money deposit (EMD) of Rs 14,000 crore among the four entities competing for spectrum. Adani Data Networks' EMD was Rs 100 crore, indicating a subdued and restricted spectrum demand on their part. Bharti Airtel has contributed Rs 5,500 crore as EMD, while Vodafone Idea has contributed Rs 2,200 crore.
Last year, during a two-day auction, Reliance Jio purchased spectrum for Rs 57,122.65 crore, Bharti Airtel bid roughly Rs 18,699 crore, while Vodafone Idea purchased spectrum worth Rs 1,993.40 crore.
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(With PTI Inputs)
