Bids exceed Rs 1.45 lakh crore on Day 1 of 5G spectrum auction

Mangalore Today News Network

New Delhi, July 27, 2022: The bid amount for the 5G spectrum exceeded Rs 1.45 lakh crore on Day 1 of the auction at the end of four rounds, Telecom Minister Ashwini Vaishnaw said. The fifth round of the auction will be held tomorrow.

 

Four firms - Adani Enterprises, Bharti Airtel, Reliance Jio, and Vi (formerly Vodafone Idea) participated in the bidding process.

The Centre is hoping to complete the spectrum allocation by August 1, the minister further said, adding that 5G services can be expected across several cities by the end of this year.

Bids were also received for 700 MHz band frequencies, Vaishnaw said.

The auction began this morning and the entire sale process will take several days, depending on the actual demand for radio waves and the strategy of individual bidders.

Courtesy: India Today