5G spectrum auction: At least Rs 1.5 trillion received so far, 10th round of bidding underway on Day 3
As intense bidding across various bands by operators like Reliance Jio and Bharti Airtel kept the pace going and extended the sale to the third day on Wednesday, the auctions brought in Rs 1.49 lakh crore.
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FollowWith a record-breaking amount collected on the first two days, the bidding wars between four major telecom companies for the 5G spectrum bandwidth have reached their third day. By the end of the auction, the Center had anticipated that bids may reach Rs 2 trillion.
On Thursday, the eleventh round of bidding for the airwaves that would support lag-free connection and extremely fast internet opened Day 3 of India's 5G spectrum auctions. As intense bidding across various bands by operators like Reliance Jio and Bharti Airtel kept the pace going and extended the sale to the third day on Wednesday, the auctions brought in Rs 1.49 lakh crore.
On Wednesday, five rounds of bidding were held, and Telecom Minister Ashwini Vaishnaw stated that "excellent competition" was evident in practically all bands on offer. Vaishnaw expressed delight at the interest for the prized 700 MHz bands, which had gone unsold in the last two auctions in 2016 and 2021. "The industry is bringing fresh vigour, which is apparent in the reaction to 5G auctions," Vaishnaw told reporters on Wednesday.
Also Read | 5G auction underway, at least Rs 4.3 lakh crore for bid with top 4 companies
On the first day, Tuesday, when four rounds were held, businesses owned by tycoons Mukesh Ambani, Sunil Bharti Mittal, and Gautam Adani as well as Vodafone Idea submitted bids totaling Rs. 1.45 lakh crore, and more demand for airwaves appeared in five rounds held on Wednesday. The initial deployment of 5G will take place in 13 cities, including Delhi, Mumbai, Chennai, Bengaluru, Ahmedabad, Chandigarh, Gandhinagar, Kolkata, Pune, and others, according to the Department of Telecommunications.
Although the specifics of the bids have not yet been made public, it is anticipated that Reliance Jio would eventually place the highest bid, offering up to Rs 80,000 crore and most likely choosing 10MHz of spectrum in the expensive 700MHz band, according to sources from PTI. According to the government, the auction's specifics won't be made public until the 5G spectrum bid is done.
Also Read | 5G spectrum auction begins today, know which 13 cities to get services
(With inputs from PTI)
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