5G spectrum auction enters in 5th day! 71% of spectrum on block sold, bids of Rs 1,49,855 cr received
About 71 percent of the total spectrum put on the block has been provisionally sold, Telecom Minister Ashwini Vaishnav said. "This is a very good response, "Vaishnav said. Seven rounds of bidding took place and incrementally Rs 231.6 crore came in on Friday. In all, 23 rounds of bidding have been conducted so far.
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New Delhi, July 30: It seems like India's 5G spectrum auction is receiving a good response from the telecom companies, as the government has on the fourth day of sale government has received bids worth about Rs 1,49,855 crore. With that the auction has entered in 5th day.
About 71 percent of the total spectrum put on the block has been provisionally sold, Telecom Minister Ashwini Vaishnav said. "This is a very good response, "Vaishnav said. Seven rounds of bidding took place and incrementally Rs 231.6 crore came in on Friday. In all, 23 rounds of bidding have been conducted so far.
Billionaire Mukesh Ambani's Reliance Jio, Sunil Mittal-led Bharti Airtel, Vodafone Idea, and a unit of billionaire Gautam Adani's flagship Adani Enterprises are in the race to bid for a 5G spectrum, that offers speeds about 10 times faster than 4G, lag-free connectivity and can enable billions of connected devices to share data in real-time.
After a flying start on Tuesday, which saw players pouring in Rs 1.45 lakh crore on Day 1, the numbers inched up incrementally over the days till Friday as Jio and Airtel engaged in intense bidding in UP East circle for the 1800 MHz band.
Bids worth Rs 1,49,623 crore were received at the end of Thursday. A total of 72 GHz (gigahertz) of radiowaves worth at least Rs 4.3 lakh crore were put on the block.
The auction is being held for spectrum in various low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz), mid (3300 MHz), and high (26 GHz) frequency bands.
Meanwhile, sources said the minister will also be holding a meeting with PE funds, VCs, investors, and banks in Mumbai on Saturday to understand their views and concerns, as also to discuss the growth path for the telecom sector.
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