hometelecom News5G Spectrum Auction: Action moves to fourth day after 16 rounds of bidding, govt receives Rs 1.5 lakh crore in bids
5G Spectrum Auction: Action moves to fourth day after 16 rounds of bidding, govt receives Rs 1.5 lakh crore in bids
After 16 rounds of bidding, the government on Thursday received total bids to the tune of more than Rs 1.5 lakh crore — a new record, up from the previous high of Rs 1.09 lakh crore in the 2015 auction.
The mega 5G auction will continue on Friday after 16 rounds of action-packed bidding across frequencies. The government on Thursday received total bids to the tune of more than Rs 1.5 lakh crore — a new record, up from the previous high of Rs 1.09 lakh crore in the 2015 auction.
The mega 5G spectrum auction had begun on Tuesday with Reliance Jio, Adani Group, Bharti Airtel and Vodafone Idea as participants in the race.
A total of 72 gigahertz (GHz) of 5G airwaves worth Rs 4.3 lakh crore were on offer with a validity period of 20 years in the country's biggest-ever auction of spectrum.
The auction was held in low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz), and high (26 GHz) frequency bands. Union Minister for Telecom Ashwini Vaishnaw said there was competition in the 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2500 MHz, 3300 MHz and 26GHz bands.
According to government officials, the 700 MHz low band received bids for the first time ever. Government sources said 40 percent of the 720 MHz band has been sold.
On Tuesday, Vaishnaw had said the government intends to allocate the spectrum "in record time" — by August 14, with a rollout of service expected by September.
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First Published: Jul 28, 2022 6:45 PM IST
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