5G spectrum auction ends; total bids at over Rs 1.5 lakh crore, Reliance Jio top bidder
With speeds around ten times faster than 4G, lag-free connection, and the ability to allow billions of linked devices to share data in real-time, Reliance Jio was the highest bidder for the airwaves. Bharti Airtel and Vodafone Idea Ltd. came after it.
FollowIn a seven-day auction that ended on Monday, a record amount of 5G telecom spectrum—over Rs 1.5 lakh crore—was sold. Jio, owned by billionaire Mukesh Ambani, emerged as the highest bidder, solidifying its position as the market leader. Direct sources with knowledge of the situation indicated that preliminary figures place the total bids at Rs. 1,50,173 crore.
The mop-up from the 5G spectrum, which may provide ultra-high speed mobile internet access, is almost twice as much as the Rs 77,815 crore worth of 4G airwaves sold last year and triple the Rs 50,968.37 crore obtained from a 3G auction in 2010.
With speeds around ten times faster than 4G, lag-free connection, and the ability to allow billions of linked devices to share data in real-time, Reliance Jio was the highest bidder for the airwaves. Bharti Airtel and Vodafone Idea Ltd. came after it.
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According to reports, the newcomer Adani group purchased 26 MHz spectrum in order to establish a private telecom network. The sources claimed that once the information from the auction is completely collated, specifics of which business purchased how much spectrum would be disclosed. With Vodafone Idea's limited involvement, Bharti and Jio have probably established a 5G spectrum footprint throughout the entirety of India.
Despite offering spectrum in ten bands, the government received no offers for the airwaves in the 600 MHz, 800 MHz, and 2300 MHz bands. A little over two-thirds of the bids were placed for the 3300 Mhz and 26 GHz 5G bands, while over a quarter of the demand came from the 700 Mhz band, which had not been successfully sold in the two prior auctions (2016 and 2021).
Reliance Jio purchased spectrum for Rs 57,122.65 crore in the two-day auction held last year, Bharti Airtel offered roughly Rs 18,699 crore, while Vodafone Idea purchased spectrum worth Rs 1,993.40 crore.
The 5G auction, according to prior comments from Telecom Minister Ashwini Vaishnaw, highlighted the industry's desire to grow and its transition into a growth era. Vaishnaw anticipated the launch of 5G by October of this year. According to the government, 5G may offer broadband rates roughly ten times quicker than 4G.
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