Bids worth Rs 1,49,967 crores received in ongoing 5G Spectrum auction

In the ongoing 5G spectrum auctions, after 30 rounds of bidding, the government has so far received bids worth Rs 1,49,967 crores. On Saturday, which was day 5 of auctions, seven rounds were conducted, in which the Department of Telecom submitted bids totaling Rs 112 crore (DoT). Monday, August 1st, sees the continuation of the auction. The bid process has already gone through seven rounds.

On Friday, there was heated bidding for the 1800 Mhz band in Uttar Pradesh (East), with the price per unit climbing by 49 percent to Rs 135.60 crore. Analysts estimate that Reliance Jio spent 84,000 crores on the spectrum, compared to Bharti Airtel’s 46,000 crores and Vi’s 18,500 crores.

The four main participants in the auctions are Reliance Jio, Bharti Airtel, Vodafone Idea, and section obillionaire Gautam Adani’s Adani enterprises. The largest telecom carrier in India, Reliance Jio Infocomm, has emerged as the most aggressive bidder, according to earnest money deposit (EMD) data.

after a busy opening day on Tuesday, when bids worth Rs. 1.45 lakh crore were made. The estimated value of the 72 GHz accessible spectrum is at least Rs 4.3 lakh crore. There are currently auctions for spectrum in the low frequency 600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, and 2500 MHz, mid-frequency 3300 MHz, and high frequency 26 GHz bands.

Union Telecom Minister Ashwini Vaishnaw said that Rollouts of 5G are anticipated to begin by October 2022, and India will have a sizable amount of 5G coverage in 2 years.