5G Auction: Day 7 of bidding resumes with all eyes on UP East
Monday marks the seventh day of the 5G spectrum auction, and the 38th round of bidding is currently underway after the cumulative spectrum sale crossed the Rs 1.50 lakh crore milestone on the sixth day of bidding on Sunday. The UP East circle saw bidding action picking up once again for 1,800 MHz, a band primarily used by telcos for 4G services.
UP East — which has over 10 crore mobile subscribers — accounted for all of the incremental spectrum sales on Sunday. The demand for spectrum in this band in the UP East market, pushed its auction prices to over Rs 160 crore per MHz against the reserve price of Rs 91 crore per MHz, breaching the base price levels of the 2021 auction (Rs 153 crore).
The bidding intensity for the 1,800 MHz band in Uttar Pradesh East circle had peaked between Wednesday and Friday, then subsided somewhat on Saturday. On Sunday, however, renewed interest was seen and demand flared once again outstripping the spectrum supply, sources said.
All the three private operators are said to be keen on topping up their holdings in this band in UP East, as radiowaves in the 900 MHz band are not available. The 2022 auction timelines would depend on how the bidding progresses through the day, and if any player relents.
Telecom Minister Ashwini Vaishnaw had earlier said the 5G auction underscored that industry wants to expand and had entered a growth phase. The reserve price fixed for spectrum is a "fair number" and the same is visible from the auction outcome, the minister had asserted.
Until Friday, about 71 percent of the total spectrum put on the block had been provisionally sold. After a flying start on Tuesday that saw players pouring in Rs 1.45 lakh crore on the first day, the numbers have increased incrementally since Wednesday.
This has stretched the auction duration beyond what was previously anticipated. In all, 72 GHz of radiowaves worth at least Rs 4.3 lakh crore is on the block in the 2022 auction.
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